Tag Archives: copper

Copper chart analysis

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What is Dr. Copper’s prognosis for the world economy?
Chart analysis for copper based on the weekly chart analysis showing the intermediate and near-term downtrend. The 200 day and 50 day moving averages are identified on the chart. The RSI is confirming the intermediate downtrend. Copper is trading below both moving averages. Major support is at $3.00. Dr. Copper has a tepid prognosis for the world economy.

Copper Weekly Chart courtesy of StockCharts.com

Chart analysis for copper based on the weekly chart showing the intermediate and near-term downtrend. The 200 day and 50 day moving averages are identified on the chart. The RSI is confirming the intermediate downtrend. Copper is trading below both moving averages. Major support is at $3.00.

Dr. Copper has a tepid prognosis for the world economy which does not bode well for the TSX Index.

Reference the last chart analysis for copper.

Reference the last chart analysis for the TSX Index which is positively correlated with copper.

Reference my chart analysis for copper which showed the correlation between copper and the TSX.

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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.

Copper daily candlestick chart

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Tall white candlestick on Friday: 6.50% gain
Tall bullish white candlestick on the daily copper chart on Friday needs follow-through next week.

Copper Daily Candlestick Chart

Nice pop on Friday but there has to be follow-through next week. The intermediate trend is still down and the 20-day simple moving average is a good approximation of the intermediate downtrend.

Reference the last chart analysis on April 18, 2013 where I highlighted the hammer.

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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 TradeOnline.ca

Copper candlestick chart analysis

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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.

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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 TradeOnline.ca

Technical Analysis of copper

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Increased probability copper will test major support at $3.00
Copper candlestick weekly chart showing the intermediate downtrend and major support at $3.00

Copper Candlestick Chart courtesy of Stockcharts.com

High probability copper will test major support at $3.00. It is trading below the 50 day and 200 day moving averages. The 50 day has crossed the 200 day moving average. There was a tall dark shaven head and bottom ( very close) candlestick on the daily chart today. The RSI is at an oversold level but it can stay oversold for long periods and this is no reason to buy against the intermediate and near-term downtrend.

Reference the last chart analysis for copper.

I have posted a number of charts on Dr. Copper highlighting the tepid prognosis for the world economy. One of the charts showed the positive correlation between the price of copper and the TSX Index.

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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 TradeOnline.ca

U.S. Commodity Groups YTD Performance

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Not a good YTD performance for the major commodity groups
A bar chart showing the absolute performance of the major commodity groups.

US Commodity Groups YTD Absolute Performance courtesy of StockCharts.com

Not a good YTD performance for the major commodity groups and it is reflected in the dismal YTD performance of the the TSX Composite Index.

Reference my chart analysis for copper which is included the industrial metals group in the above bar chart.

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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 TradeOnline.ca

Copper candlestick chart analysis

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Copper is testing the intermediate support level of $3.40
Weekly candlestick chart for copper showing the intermediate lateral trading range with support at $3.40.

Copper 3-Year Weekly Chart courtesy of StockCharts.com

Copper is trading below the 50 day and 200 day moving averages. And it is testing the support level of $3.40.
And MACD is confirming the intermediate downtrend.

Reference the last chart analysis for Dr. Copper.

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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 TradeOnline.ca

Near-term downtrend for copper

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Yes, Dr. Copper has a tepid prognosis for the world economy
Near-term downtrend for copper with support at $3.40

Copper Weekly Candlestick Chart – courtesy of StockCharts.com

The near-term trend for copper is down and trading below the 200-day simple moving average.

Copper and the TSX Composite Index are positively correlated. Don’t expect any major upward movement in the TSX unless copper makes a move above resistance.

Reference the last chart analysis for copper showing the positive correlation with the TSX Composite Index.

______________________________

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 TradeOnline.ca

Copper chart analysis showing resistance at $3.80

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Positive correlation between copper and TSX Index
Copper chart analysis using a weekly line chart and a TSX Index overlay. Correlation coefficient is identified on the chart.

Copper 3-Year Weekly Chart with TSX Index Overlay – courtesy of StockCharts.com

The major trend is sideways for copper. The intermediate and near-term trends are up with resistance at $3.80.

Reference the last chart analysis for copper.

Reference the last chart analysis for the TSX Index.

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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 TradeOnline.ca