Copper (HG1) Down $0.01 Over Past 4 Hours, And A Story About Andrew Scott; in an Uptrend Over Past 14 Days

Copper Daily Price Recap

Copper came into today down 0.19% ($0.01) from the open of yesterday, marking the 2nd straight day a decline has happened. Out of the 5 instruments in the metals asset class, Copper ended up ranking 4th for the day in terms of price change relative to yesterday. Here is a daily price chart of Copper.

HG1

Copper Technical Analysis

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. Or to view things another way, note that out of the past 14 days Copper’s price has gone up 9 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

Overheard on Twitter

Behold! Here are the top tweets related to Copper:

  • From BleekerJj:

    @calichebahada @OrocoCorp Valuation estimation of $OCO:
    1000 M Oz at copper price 3,4 USD per Oz minus Opex+Capex at 1,7 USD per Oz => total Net Asset Value of 1700 M. USDl. Total no of shares 170 million.
    So valuation of future Share Price at 50% of NAV is 1700/2 divided by 170 = 5 USD.

  • From DavidCa041980:

    @SilDante_ @andrew_JMS The crux interview from last year worth a listen. NVS guidance 10-20bags then when SP circa 3p. Placing dilution since, countered some by inc in Zaco licence.
    Better copper price/commodity market since.
    Guidance provided at time best we’ve had from BOD on aspirations

  • From adstrader:

    @Trisseswe @SheldonW65 We’ve also seen a big move up in the $copper price since then, which I’m sure will help #ARCM in negotiating a deal with Anglo American #AAL

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

Goldman Sachs says copper price could hit $10,000 by 2022

“We believe a significantly higher copper price is needed to help balance this structurally tight fundamental backdrop.” The predicted price rise is good news for Australian mid-tier copper hopeful Castillo Copper Ltd (ASX:CCZ) (LON:CCZ) (FRA:7OR), which recently returned impressive results from the Big One Deposit at its Mt Oxide Project in the Mt Isa copper belt….Castillo Copper Ltd’s (ASX:CCZ) Ged Hall tells Proactive’s Andrew Scott they’ve confirmed the strong potential of its Big One deposit with assays returning shallow copper mineralisation of up to 4.1%.