(VIANEWS) – As European traders prepare for Monday’s close, copper ends a two-day rise, falling 1.03 percent to $4.2785. As a result, the red metal remains below the 200-SMA, despite a bearish MACD.
According to FXStreet, the recent selling pressure is likely driving bears into the rising support line from June 29, at $4.2600.
Any additional weakening, however, will be called into question by a junction of the late June low and the 61.8 percent Fibonacci retracement of the June-July upswing, both of which are located around $4.2070.
Copper (HG=f) is currently on bullish momentum. At 04:04 EST on Thursday, 22 July, Copper (HG=f) is at $4.32 and 1.03% up since the last session’s close.
Today’s last reported volume for Copper is 14923, 100% below its average volume of 20814932308.42.
About Copper’s daily highs and lows, it’s 0.9% up from its trailing 24 hours low of $4.28 and 0.723% up from its trailing 24 hours high of $4.29.
Copper’s last week, last month’s, and last quarter’s current volatility was a negative 0.40%, a negative 0.03%, and a positive 1.07%, respectively.
Copper’s current volatility rank, which measures how volatile a financial asset is (variation between the lowest and highest value in a period), was 1.10% (last week), 0.91% (last month), and 1.07% (last quarter), respectively.
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