Copper (HG1) Down $0.02 Over Past 4 Hours; Started Today Down 0.68%

Copper Daily Price Recap

The choppiness in the recent daily price action of Copper continues; to start today, it came in at a price of 3.125 US dollars, down 0.68% ($0.02) since the day prior. Out of the 5 instruments in the metals asset class, Copper ended up ranking 3rd for the day in terms of price change relative to the day prior. Below is a daily price chart of Copper.

HG1

Copper Technical Analysis

Volatility for Copper has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For another vantage point, consider that Copper’s price has gone down 8 of the previous 14 trading days.

Overheard on Twitter

Behold! Here are the top tweets related to Copper:

  • From BleekerJj:

    @doft1987 @ClassicValueInv Napkin $OCO valuation: at least 1000 M Oz at current copper price 3,14 USD per Oz minus Opex+Capex at 1,6 USD per Oz => total Net Asset Value of 2000 M. CAD. Total no of shares 169 million. Valuation of future Share Price at 50% of NAV is 2000/2 divided by 169 = 5,9 CAD at least

  • From LosAndesCopper:

    London #copper price has reached a two-and-a-half year peak following the vaccine news, which has prompted hopes for the recovery of economies. Future stimulus is also behind the gain, as UK government spending on infrastructure increases #LAC $LAC #mining

  • From calichebahada:

    @BleekerJj 5.90 is z good start👌. Copper price will be higher and so will the amount of copper😉