Momentum Reversal? Copper’s Heads Up for the First Time in 4 Days

The Hourly View for Copper

  • At the time of this writing, HG1’s price is up $0 (0.02%) from the hour prior.
  • Copper has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears.
  • Regarding the trend, note that the strongest trend exists on the 100 hour timeframe.
  • 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.

HG1

Below is a daily price chart of Copper.

HG1

Featured Copper Idea From TradingView

Below is a trading comment entitled The Dollar INFLATION Is HERE? Let’s Find Out! you may find interesting:

https://www.tradingview.com/x/PcY4WjAT/Hello,Traders!The fears of inflation are now the reality, with the official FED number showing that inflation went from 1.6% in 2020 to 4.2% in April 2021, which means that the situation “on the ground” is even worse. Even just by looking at the charts of lumber, copper, and other commodities, while finding out that all the cars in your local dealership are sold out a year ahead, and the car prices are up, with the FED and the Treasury competing for the number of zeros on their official operating papers, the thoughts of «shortages» and «inflation» are naturally creeping into your head,followed by the question of “how it all came to it?” And while the Covid-19 and the lockdowns are the obvious culprits, the details are interesting. So let’s dive into the mess of the Covid-19 consequences to find out. Generally, Inflation can be caused by any of the two components: excess money supply, directed towards consumption, as opposed to investments, or goods supply shortage, with the unchanged money supply. In 2021 we seem to have both, but the details are quite peculiar. L…

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