Hello! This is the news page for Copper. Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
For Copper, we have to zoom out to the 90 day timeframe and beyond to see a clear trend; at that point, a clear uptrend becomes apparent.
HG1 Moving Averages
Across several time periods between 20 and 200 days, the trend on HG1 has remained consistently bullish. Moreover, it should also be noted that the 20 SMA just turned bullish today.
The chart below illustrates.
The View From the Weekly Timeframe
At the moment, HG1’s price is up $0.06 (1.49%) from the week prior. Moreover, note that the weekly chart shows that HG1 has seen 2 straight up weeks. If you’re a trend trader, consider that the strongest clear trend on the weekly chart exists on the 20 week timeframe. Looking further out, the moving averages on the weekly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. HG1’s weekly price action over the past 52 weeks can be seen via the chart below.