Copper (HG1) Down $0.08 Over Past 4 Hours, Fares the Worst Out of metals; Crosses 20 Day Moving Average

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 2.9615 US dollars, down 2.61% ($0.08) since the previous day. Those trading within the metals asset class should know that Copper was the worst performer in the class today. Here is a daily price chart of Copper.

HG1

Copper Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Copper crossed below its 20 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 17 out of the past 30 days.

Overheard on Twitter

For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to Copper for the past day were:

  • From DznBkr:

    @NichBaker I’m warming up to the AIS story as the debt can be paid down and the copper asset can go from junk to decent in no time should the copper price make a much anticipated run to mid $3 range.

  • From PhamolaPhiri:

    @mosukiri08 @Jebba11 For KCM they didn’t take the option it is always there, it is optional and they chose not to partake, someone might have advised coz it’s around the BCL and depressed copper price times

  • From calichebahada:

    @valuestocks im saying there will be more than 2 billion tons of ore at xx grade times ?? copper price 2 billion is a possibility for sure!