Copper Technical Analysis Today
Summary
Copper trades at 6.585, up 0.89% on the day but still navigating a challenging technical landscape. Price sits beneath the SuperTrend resistance at 6.6339 and remains below the SMA50 at 6.6023. The overall bias is bearish with medium confidence, scoring -4, as bulls struggle to reclaim key moving averages and the 4-hour regime remains below the cloud.
Key levels — confluence zones
Zones where several technical levels cluster together (moving averages, SuperTrend, Fibonacci retracements, previous-day range, swing points). More converging levels mean a more relevant zone.
| Resistance | Levels | Strength |
|---|---|---|
| 6.6339 | SuperTrend | ● |
| 6.6460 | Previous-day high | ● |
| 6.7081 | SMA200 | ● |
| Support | Levels | Strength |
|---|---|---|
| 6.5470–6.5674 | Fib 61.8% + Fib 50.0% + Fib 38.2% + SMA20 | ●●●● |
| 6.5220–6.5280 | Swing low + Swing low | ●● |
| 6.5090 | Previous-day low + Swing low | ●● |
Trend
All three major moving averages are stacked bearishly: SMA20 at 6.5674, SMA50 at 6.6023, and SMA200 at 6.7081, with price below all three. SuperTrend is pointing down at 6.6339, reinforcing the dominant bearish structure. The 4-hour Ichimoku context confirms a below-cloud regime, with a bull score of just 1 versus a bear score of 3.
| Indicator | Value | Reading |
|---|---|---|
| SMA 20 | 6.5674 | price above |
| SMA 50 | 6.6023 | price below |
| SMA 200 | 6.7081 | price below |
| SuperTrend (10,3) | 6.6339 | bearish |
| Ichimoku 4H | below the cloud | 1/4 bullish · 3/4 bearish |
Momentum
RSI sits at 49.0, just below the neutral 50 level, reflecting no meaningful bullish momentum. MACD at -0.00861 remains negative but is above its signal line at -0.01148, hinting at a minor loss of bearish momentum. Volume ratio at 0.21 is notably low, suggesting limited conviction behind the current intraday bounce.
| Indicator | Value |
|---|---|
| RSI (14) | 49.0 |
| MACD / signal | -0.00861 / -0.01148 |
| Volume vs 40-bar average | ×0.21 |
Structure — swing, Fibonacci and Elliott Wave
The most recent swing ran from 6.522 up to 6.5875. Fibonacci retracement levels cluster into a strong support zone between 6.547 and 6.5674, combining the 61.8%, 50.0%, 38.2% levels and SMA20, rated strength 4. Elliott Wave analysis labels current price action as Wave A, the first corrective leg, with a 51% probability and invalidation at 6.8128.
| Element | Level |
|---|---|
| Last swing | 6.5220 → 6.5875 (up) |
| Fibonacci 38.2% | 6.5625 |
| Fibonacci 50.0% | 6.5547 |
| Fibonacci 61.8% | 6.5470 |
| Elliott Wave | Wave 🅐 — First Corrective Leg |
| Elliott invalidation | 6.8128 |
Trade scenarios
Educational scenarios built from the confluence zones. Entry, stop and target are calculated by our engine; risk/reward is computed from the published numbers, and scenarios with an unfavourable ratio are flagged rather than presented as opportunities.
| Scenario | Entry | Stop | Target | R:R | Quality |
|---|---|---|---|---|---|
| Bullish aggressive (pullback) | 6.5674 | 6.5320 | 6.6339 | 1.88:1 | acceptable |
| Bearish aggressive (rejection) | 6.6339 | 6.6489 | 6.5674 | 4.43:1 | good |
| Bullish conservative (breakout) | 6.6414 | 6.6189 | 6.6460 | 0.20:1 | unfavourable |
| Bearish conservative (breakdown) | 6.5395 | 6.5824 | 6.5280 | 0.27:1 | unfavourable |
Outlook and confirmation
The bearish case activates on a breakdown below 6.547, which opens a path toward swing support at 6.522–6.528 and the prior day low at 6.509. The bullish case requires a confirmed break above the SuperTrend trigger at 6.6339. Among the scenarios, the short rejection setup at 6.6339 offers the most favourable structure with an R/R of 4.43, while the long pullback to 6.5674 presents an R/R of 1.88 as an alternative to monitor.
FAQ
What is the Copper trend today?
On the 1-hour chart our engine reads a bearish bias with medium confidence (score -4/7), based on moving averages, MACD, RSI, SuperTrend and the 4-hour Ichimoku context. Copper trades at 6.5850.
What are the key support levels for Copper?
The nearest support zones are 6.5470–6.5674, 6.5220–6.5280, 6.5090.
What are the key resistance levels for Copper?
The nearest resistance zones are 6.6339, 6.6460, 6.7081.
What would confirm a move in Copper?
An hourly close above 6.6339 would confirm the bullish case. An hourly close below 6.5470 would confirm the bearish case.
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