Copper is Up for the 3rd Day in a Row

The Hourly View for Copper

  • At the time of this writing, HG1’s price is up $0.02 (0.42%) from the hour prior.
  • This is the 2nd hour in a row Copper has seen its price head up.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour 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 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the hourly 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.

Copper’s hourly price chart is shown below.

HG1

The Daily View for Copper

  • At the moment, HG1’s price is up $0.04 (0.91%) from the day prior.
  • It’s been a feast for bulls operating on the daily timeframe, as Copper has now gone up 4 of the past 5 days.
  • Regarding the trend, note that the strongest trend exists on the 100 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 20 and 10 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • 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.

HG1