Copper (HG.FUT)

Close: 4.09 (-0.04), Nov 22, 2024
Hold

chart Copper (HG) Candlesticks 22 Days
Candlesticks
chart Copper (HG) Short term
Short term: Weak Negative
chart Copper (HG) Medium term
Medium term: Hold
chart Copper (HG) Long term
Long term: Positive
chart Copper (HG)
RSI - Relative Strength Index

Short term

Copper is in a falling trend channel in the short term. This shows that investors over time have sold at lower prices to get out of the future, and indicates negative development for the future. The future has support at 4.00 and resistance at 4.24. Negative volume balance indicates that volume is high on days with falling prices and low on days with rising prices, which weakens the future. The future is overall assessed as technically slightly negative for the short term.

Recommendation one to six weeks: Weak Negative (Score: -50)

Medium term

Copper has broken through the floor of a rising trend channel in the medium long term. This indicates a slower rising rate at first, or the start of a more horizontal development. The future has met the objective at 4.30 after a break of the rectangle formation. The price has now fallen, but the formation indicates further rise. The future has support at 3.96 and resistance at 4.64. Negative volume balance weakens the future in the short term. The RSI curve shows a falling trend, which could be an early signal of the start of a falling trend for the price as well. The future is overall assessed as technically neutral for the medium long term.

Recommendation one to six months: Hold (Score: 8)

Long term

Copper shows strong development within a rising trend channel in the long term. Rising trends indicate that the future experiences positive development and that buy interest among investors is increasing. The future has met the objective at 4.73 after a break of the rectangle formation. The price has now fallen, but the formation indicates further rise. The future is testing support at 4.00. This could give a positive reaction, but a downward breakthrough of 4.00 means a negative signal. Negative volume balance indicates that volume is high on days with falling prices and low on days with rising prices, which weakens the future. Trading volume has increased substantially lately. This shows there is an increased interest for the future, possibly because of fundamental news. The future is overall assessed as technically positive for the long term.

Recommendation one to six quarters: Positive (Score: 78)


Overall analysis

Copper is technically negative for the short term, neutral for the medium term, and positive for the long term.

Recommendation one to six months: Hold (Score: 20)

Period  
 Vol.bal. Volatility Liquidity +/- %
1 day-1.03%0.17-0.95%
5 days-17.653.37%0.19+0.53%
22 days-41.948.61%0.26-5.78%
66 days-19.8616.78%0.18-2.48%
 


Investtech guarantees neither the entirety nor accuracy of the analyses. Any consequent exposure related to the advice / signals which emerge in the analyses is completely and entirely at the investors own expense and risk. Investtech is not responsible for any loss, either directly or indirectly, which arises as a result of the use of Investtechs analyses. Details of any arising conflicts of interest will always appear in the investment recommendations. Further information about Investtechs analyses can be found here disclaimer. The content provided by Investtech.com is NOT SEC or FSA regulated and is therefore not intended for US or UK consumers.


Investtech guarantees neither the entirety nor accuracy of the analyses. Any consequent exposure related to the advice / signals which emerge in the analyses is completely and entirely at the investors own expense and risk. Investtech is not responsible for any loss, either directly or indirectly, which arises as a result of the use of Investtechs analyses. Details of any arising conflicts of interest will always appear in the investment recommendations. Further information about Investtechs analyses can be found here disclaimer. The content provided by Investtech.com is NOT SEC or FSA regulated and is therefore not intended for US or UK consumers.

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