Copper (HG1) Up $0.1 in Last 4 Hours, Crosses 20 Day Moving Average; Pin Bar Pattern Appearing on Chart

Copper Daily Price Recap

Copper entered today at $3.046, up 3.34% ($0.1) from the previous day. Out of the 5 instruments in the metals asset class, Copper ended up ranking 2nd for the day in terms of price change relative to the previous day. Here is a daily price chart of Copper.

HG1

Copper Technical Analysis

Notably, Copper crossed above its 20 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For another vantage point, consider that Copper’s price has gone up 4 of the previous 10 trading days. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.

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 bobbyoflondon:

    #ARS Copper price now on verge of break out. A 27 month high! ARS sp was 11p last time copper was here & since then the BFS has been delivered & now getting close to potential strategic partner deal. No doubt that a re-rate’s due here…

  • From burngold:

    @PeterNBell @RidgelineNV Just clarifying what I mean. Stressing on IPO on the gold/tin/ copper price today/this week/next week is daft. When might that mine open? 2/5/10 years down the line? Those are the prices that need to chased?

  • From BATTcables:

    Copper price on 14 Sep 2020, £5,271.82 per tonne.

For a longer news piece related to HG1 that’s been generating discussion, check out:

Copper’s outlook buoyant as demand increases

Click on the button below to clear your default MiningWeekly.com regional edition Note: When you clear your default region you will be directed to the MiningWeekly.com home page regional edition associated with the geographic location of our IP address….“China has substantially increased refined copper imports in order to keep up with demand from domestic industries,” Fitch Solutions Country Risk and Industry Research said, noting that continued recovery in the global economy will also reinforce copper demand growth in 2021 as well as maintain a supportive environment for bullish sentiment in the market….Meanwhile, over the long term to 2029, Fitch Solutions Country Risk and Industry Research expects copper market to remain in a deficit as consumption growth remains strong, driving prices higher over the coming years.