Copper 4 Hour Price Update
Updated November 18, 2020 08:17 AM GMT (04:17 AM EST)
Copper’s 3 four-hour candle positive streak has officially concluded, as the candle from the last 4 hour candle closed down 0.51% ($0.02). Relative to other instruments in the metals asset class, Copper ranked 2nd since the last 4 hour candle in terms of percentage price change.
Copper Daily Price Recap
The end of a 3 day positive run has come for Copper, which finished the previous day down 0.51% ($0.02). 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. Let’s take a look at the daily price chart of Copper.
Copper Technical Analysis
The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 9 out of the past 14 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 confluencetradr:
Final leg down is ending on #BZT as price capitulated between 0.27-0.3 imo. This is also a strong demand area hence offering a fantastic opportunity to get in on the cheap with Copper price rising. Longterm chart setup is exceptional. News rich period. Main Target 1.4-1.95p imo.
- From Lazerblue:
#ars. 5p paid.Company presentation updated to indicate signing of deal is going ahead and could well be this week #copper price flying at the same time Most recent broker target sits at 14pPartner has option to buy one asset for double current MCAP , leaving Beutong !
- From fwyburd:
@jpbrumby Copper price risk? Margins are relatively thin and they said in the call that depressed copper prices boosted HY results and they were not 100% hedged. Also, do moves by China to open up commodity trading of copper increase this risk (or not)?