The Hourly View for Copper
- At the moment, HG1’s price is up $0 (0.08%) 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 doji candlestick pattern on Copper. Given that we see downtrend on the 20 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 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
- Currently, HG1’s price is down $-0.05 (-1.16%) from the day prior.
- The daily chart shows that Copper has seen 3 straight down days.
- As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe.
- Regarding moving averages, it should first be noted that price has crossed the 20 day moving average, resulting in them so that price is now turning below 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.
Below is a daily price chart of Copper.
Featured Copper Idea From TradingView
Below is a trading comment entitled XAUUSD, 1874.6 USD (%-1.85, Buy) Trendline Sell Off you may find interesting:
XAUUSD, 1874.6 USD (%-1.85, Buy) is going along its trendline bt a bit sell off we must admit. Silver troy ounce (31.10 gram) 27.5 USD (percentage of -2.48, Neutral signaling) and Platinum , 1160.6 USD (-2.69 of pct, Buy). Ounce palladium 2839.5 USD (%-0.72) costs for traders.Copper 1 pound (0.4535 kg), 4.455 USD (with the percentage of -2.97, Buy) is being traded at the time written. American Dollar index (DXY) 90.509 is pushing itself (%0.67 Buy) on the line again.