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Copper Futures Bearish By 11% In The Last 21 Sessions

Copper Futures Bearish By 11% In The Last 21 Sessions
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(VIANEWS) - Copper (HG) has been up by 11.66% for the last 21 sessions. At 17:50 EST on Thursday, 8 August, Copper (HG) is $3.98.

Volume

Today's last reported volume for Copper is 61544, 99.99% below its average volume of 9189893207.19.

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).

Previous days news about Copper (HG)

  • Copper: signs of selling exhaustion are emerging – TDS. According to FXStreet on Wednesday, 7 August, "Finally, signs of selling exhaustion are emerging in Copper markets, TDS senior commodity strategist Daniel Ghali notes."

News about

  • According to FXStreet on Tuesday, 6 August, "Some follow-through selling below the $71.00 mark will reaffirm the negative bias and make Crude Oil prices vulnerable to accelerate the fall towards intermediate support near mid-$70.00s en route to the $70.00 psychological mark. ", "Concerns about an economic downturn in the US and China - the world's two largest economies - continue to act as a headwind for Crude Oil prices. "
  • According to FXStreet on Tuesday, 6 August, "This is expected to dent fuel demand and drags Crude Oil prices lower for the fourth straight day, which, in turn, is seen undermining demand for the commodity-linked Loonie. ", "Furthermore, the risk of a broader Middle East conflict continues to fuel concerns about supply disruptions from the key Oil producing region and could help limit losses for Crude Oil prices. "
  • Crude oil unable to find a bid as WTI languishes below $73. According to FXStreet on Tuesday, 6 August, "West Texas Intermediate (WTI) US Crude Oil fell back below $73.00 per barrel on Tuesday as fossil markets struggle to find a foothold with barrel bids firmly entrenched in the low side after a four-week tumble.", "Still, the figure looks set to end a multi-week run of sharp declines in US Crude Oil supplies after last week showed a -4.495 million barrel contraction. "

More news about Copper (HG).

ViaNews Editorial Team

Via News Editorial Team delivers comprehensive financial news coverage and market analysis from journalists around the world. Our team specializes in data journalism and in-depth reporting on stock markets, business developments, and economic trends.