Copper candlestick chart analysis

Hammer on the chart today is a reversal pattern
A hammer appeared on the daily chart for copper. A hammer is a reversal pattern.

Copper Daily Candlestick Chart

The hammer on today’s chart is a reversal pattern. This is an indicator that the intermediate downtrend will end. It does not mean that copper will suddenly reverse direction: it could ease into a consolidation zone. The price action today is reflected in the hammer. Copper opened at $3.18 and then traded down to $3.06 which was close to major support at $3.00. It then closed at $3.20.

Reference the last chart analysis for copper based on the weekly chart.


Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2013

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.