Copper High Grade Weekly Commodity Futures Price Chart : COMEX

Copper High Grade
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Weekly Commodity Futures Price Chart

Copper High Grade (COMEX)

TFC Commodity Charts


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Contract Specifications:HG,COMEX
Trading Unit: 25,000 pounds
Tick Size: 0.05 c/lb. = $12.50
Quoted Units: US $ per pound
Initial Margin: $7,763   Maint Margin: $5,750
Contract Months: All 12 months.
First Notice Day: Last business day of month preceding contract month.
Last Trading Day: Third last business day of the month.
Trading Hours: Open outcry trading is conducted from 8:10 A.M. until 1:00 P.M.
Electronic: 3:15 P.M. on Mondays through Thursdays and concluding at 8:00 A.M. the following day.
Sundays, the session begins at 7:00 P.M. All times are New York time.
Daily Limit: $0.20 (20 cents) per pound

Analysis

Fri 8/29/14

Mov Avg-Exponential Indicator:

Conventional Interpretation: Price is below the moving average so the trend is down.

Additional Analysis: CAUTION: The market trend has changed direction. Now the market trend is DOWN!

Mov Avg 3 lines Indicator:

Note: In evaluating the short term, plot1 represents the fast moving average, and plot2 is the slow moving average. For the longer term analysis, plot2 is the fast moving average and plot3 is the slow moving average

Conventional Interpretation - Short Term: The market is bearish because the fast moving average is below the slow moving average.

Additional Analysis - Short Term: The market is EXTREMELY BEARISH. Everything in this indicator is pointing to lower prices: the fast average is below the slow average; the fast average is on a downward slope from the previous bar; the slow average is on a downward slope from the previous bar; and price is below the fast average and the slow average. WARNING: Market momentum slowed down on this bar. This is indicated by the fact that the difference between the two moving average lines is smaller on this bar than on the previous bar. Its possible that we may see a market rally.

Conventional Interpretation - Long Term: The market is bullish because the fast moving average is above the slow moving average.

Additional Analysis - Long Term: Recently the market has been extremely bullish, however currently the market has lost a some of its bullishness due to the following: the fast moving average slope is down from the previous bar, price is below the fast moving average, price is below the slow moving average. Its possible that we may see a market pullback here. if so, the pullback might turn out to be a good buying opportunity.

Bollinger Bands Indicator:

Conventional Interpretation: The Bollinger Bands are indicating an oversold condition. An oversold reading occurs when the close is nearer to the bottom band than the top band.

Additional Analysis: The market appears oversold, but may continue to become more oversold before reversing. Look for some price strength before taking any bullish positions based on this indicator.

Volatility Indicator: Volatility is trending up based on a 9 bar moving average.

Momentum Indicator:

Conventional Interpretation: Momentum (0.02) is above zero, indicating an overbought market.

Additional Analysis: The long term trend, based on a 45 bar moving average, is DOWN. The short term trend, based on a 9 bar moving average, is DOWN. Momentum is indicating an overbought market, and appears to be slowing. A modest downturn is possible here.

Rate of change Indicator:

Conventional Interpretation: Rate of Change (0.56) is above zero, indicating an overbought market.

Additional Analysis: The long term trend, based on a 45 bar moving average, is DOWN. The short term trend, based on a 9 bar moving average, is DOWN. Rate of Change is indicating an overbought market, and appears to be slowing. A modest downturn is possible here.

Comm Channel Index Indicator:

Conventional Interpretation: CCI (16.10) is in neutral territory. A signal is generated only when the CCI crosses above or below the neutral center region.

Additional Analysis: CCI often misses the early part of a new move because of the large amount of time spent out of the market in the neutral region. Initiating signals when CCI crosses zero, rather than waiting for CCI to cross out of the neutral region can often help overcome this. Given this interpretation,CCI (16.10) is bullish, but has begun showing some weakness. Begin looking for an attractive point to liquidate long positions and return to the sidelines.

RSI Indicator:

Conventional Interpretation: RSI is in neutral territory. (RSI is at 47.58). This indicator issues buy signals when the RSI line dips below the bottom line into the oversold zone; a sell signal is generated when the RSI rises above the top line into the overbought zone.

Additional Analysis: RSI is somewhat oversold (RSI is at 47.58). However, this by itself isn't a strong enough indication to signal a trade. Look for additional evidence here before getting too bullish here.

MACD Indicator:

Conventional Interpretation: MACD is in bullish territory, but has not issued a signal here. MACD generates a signal when the FastMA crosses above or below the SlowMA.

Additional Analysis: The long term trend, based on a 45 bar moving average, is DOWN. The short term trend, based on a 9 bar moving average, is DOWN. MACD is in bullish territory. However, the recent downturn in the MacdMA may indicate a short term decline within the next few bars.

Open Interest Indicator: Open Interest is trending up based on a 9 bar moving average. This is normal as delivery approaches and indicates increased liquidity.

Volume Indicator:

Conventional Interpretation: No indications for volume.

Additional Analysis: The long term market trend, based on a 45 bar moving average, is DOWN. The short term market trend, based on a 5 bar moving average, is DOWN. Volume is trending higher, allowing for a pick up in volatility.

Stochastic - Fast Indicator:

Conventional Interpretation: The SlowK line crossed below the SlowD line; this indicates a sell signal.

Additional Analysis: The long term trend is DOWN. The market looks weak both long term and short term. The SlowK is at (47.39). A good downward move is possible without SlowK being oversold.

Stochastic - Slow Indicator:

Conventional Interpretation: The stochastic is bearish because the SlowK line is below the SlowD line.

Additional Analysis: The long term trend is DOWN. The market looks weak both long term and short term. The SlowK is at (54.61). A good downward move is possible without SlowK being oversold.

Swing Index Indicator:

Conventional Interpretation: The swing index has crossed zero, identifying this bar as a short term pivot point.

Additional Analysis: No additional interpretation.

Important: This commentary is designed solely as a training tool for the understanding of technical analysis of the financial markets. It is not designed to provide any investment or other professional advice.

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