Copper Futures Bullish Momentum With A 3% Jump In The Last 5 Sessions

(VIANEWS) – Copper (HG) has been up by 3.04% for the last 5 sessions. At 02:53 EST on Tuesday, 17 September, Copper (HG) is $4.29.

Volume

Today’s last reported volume for Copper is 5794, 99.99% below its average volume of 9086733298.54.

Volatility

Copper’s last week, last month’s, and last quarter’s current intraday variation average was 0.05%, 0.25%, and 0.82%, respectively.

Copper’s highest amplitude of average volatility was 0.41% (last week), 0.68% (last month), and 0.82% (last quarter), respectively.

Commodity Price Classification

According to the stochastic oscillator, a useful indicator of overbought and oversold conditions, Copper’s commodity is considered to be oversold (<=20).

News about

  • According to FXStreet on Monday, 16 September, "This comes on top of a downward revision of demand growth forecasts by the Organization of Petroleum Exporting Countries (OPEC) and the International Energy Agency (IEA) and prompts fresh selling around Crude Oil prices. "
  • Crude oil dips after soft Chinese data adds more downside pressure. According to FXStreet on Monday, 16 September, "Traders would stem a bigger rate cut as supportive of growth and demand, supporting Crude Oil prices.", "At the time of writing, Crude Oil (WTI) trades at $68.45 and Brent Crude at $71.82."
  • According to FXStreet on Monday, 16 September, "The downside, however, seems cushioned in the wake of weaker Crude Oil prices, which tends to undermine the commodity-linked Loonie.", "This, in turn, fails to assist Crude Oil prices to capitalize on last week’s recovery from the lowest level since May 2023. "

More news about Copper (HG).

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