Copper is Down for the 2nd Day in a Row

The Daily View for Copper

  • At the moment, HG1’s price is down $-0.02 (-0.46%) from the day prior.
  • The daily chart shows that Copper has seen 2 straight down days.
  • As for the trend on the daily timeframe, we see the clearest trend on the 20 day timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Copper. Given that we see an uptrend on the 10 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • Of note is that the 100 day changed directions on HG1; it is now pointing down. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Below is a daily price chart of Copper.


Featured Copper Idea From TradingView

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