The Hourly View for Copper
- Currently, HG1’s price is down $-0.02 (-0.42%) from the hour prior.
- It’s been a feast for bears operating on an hourly timeframe, as Copper has now gone down 4 of the past 5 hours.
- Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
- Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, so that price is now turning below it. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
Copper’s hourly price chart is shown below.
The Daily View for Copper
- At the time of this writing, HG1’s price is up $0.03 (0.63%) from the day prior.
- It’s been a feast for bears operating on the daily timeframe, as Copper has now gone down 12 of the past 14 days.
- If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 day timeframes.
- Most noteworthy in the world of moving averages on the daily chart is that the 100 day moving average has been crossed, so that price is now turning above it. 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.
- Divergence between HG1’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in HG1’s price.
Below is a daily price chart of Copper.