Copper (HG1) Down $0.01 On 4 Hour Chart, Makes Big Move Relative to Two Week Trend; Entered Today Down 0.5%

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 2.909 US dollars, down 0.5% ($0.01) since yesterday. Copper outperformed all 5 assets in the metals asset class since yesterday. 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 30 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 7 out of the past 14 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

Overheard on Twitter

Behold! Here are the top tweets related to Copper:

  • From binarybits:

    Anyone have expertise on the merits of copper pipes vs. PEX? I’m trying to some relocate pipes that carry hot water from our boiler to our radiators. I got two quotes and the copper price is 2.5x the PEX quote. The copper guy says the PEX tubes could burst, which sounds very bad.

  • From MY21_Oracle:

    @WrightmanAIM @RyJackman @shareGBP @TraderjohnBaker The incremental increase in NPV of BKM will be another catalyst for a deserved re-rating of this undervalued asset. Mr Market will soon re-evaluate esp as we have seen a near 45% rise in Copper price from 8th March-30th July 2020

  • From fisionandome:

    @GreedyHuat I know that but I am not completely sure. I rather buy #silver or #gold plays now. Many copper players will make the copper price go down