Moving averages generate technical buy signal

After moving sideways for a year between USD 9,000 and USD 10,700, the price of copper peaked at almost USD 10,800 in March 2022. In the summer that followed, the copper price fell sharply and reached a temporary low of USD 7,000 in July. The subsequent price fluctuations are characterized by decreasing intensity, so that the blue triangle can be derived very well. At the end of November 2023, the price then broke out above the upper triangle line – the subsequent back-test phase, which was always successful, led the copper price back to the lower triangle line one last time, from where it then managed to significantly overcome both average lines with a strong impulse in just a few weeks.

Both averages are rising, which is just as positive as the recent successful upward crossing of the 100-day line through the 200-day line – technically a medium-term buy signal.

The indicators shown reflect the upward trend and are positive but not overheated. The MACD already generated a buy signal in November (blue line crosses the red line upwards) – the stochastic did the same four weeks ago (here the green line crossed the gray line upwards). The somewhat more complex ADX indicates the change in trend to the upside by the green line rising above the red line, and the strengthening of the trend can also be seen from the rising blue line. The ROC (Rate of Change) indicator, which tends to show the main trend direction, succeeded in signaling an upward trend change in November by jumping above zero, which is still the case.

copper price chart


Disclaimer: GOLDINVEST Consulting GmbH publishes comments, analyses and news on These contents serve exclusively the information of the readers and do not represent any kind of call to action, neither explicitly nor implicitly they are to be understood as an assurance of possible price developments. Furthermore, they do not in any way replace individual expert investment advice and do not constitute an offer to sell the stock(s) discussed or a solicitation to buy or sell securities. This is expressly not a financial analysis, but an advertising / journalistic text. Readers who make investment decisions or carry out transactions on the basis of the information provided here do so entirely at their own risk. There is no contractual relationship between GOLDINVEST Consulting GmbH and its readers or the users of its offers, because our information refers only to the company, but not to the investment decision of the reader.

The acquisition of securities involves high risks, which can lead to a total loss of the invested capital. The information published by GOLDINVEST Consulting GmbH and its authors is based on careful research, however, any liability for financial loss or the content guarantee for timeliness, accuracy, adequacy and completeness of the articles offered here is expressly excluded. Please also note our terms of use.

Pursuant to §34b WpHG and §48f Abs. 5 BörseG (Austria) we would like to point out that GOLDINVEST Consulting GmbH and/or partners, principals or employees of GOLDINVEST Consulting GmbH hold shares of Aston Bay Holdings and therefore a conflict of interest exists. GOLDINVEST Consulting GmbH also reserves the right to buy or sell shares of the company at any time. Furthermore, GOLDINVEST Consulting GmbH is remunerated by Aston Bay Holdings for reporting on the company. This is another clear conflict of interest.

Latest News

Latest Videos