The copper price, currently $4.35, has broken up through the ProRealTime resistance line (red) at $4.27. The chart shows a pole and pennant formation also broken to the upside. The pole height indicates a rise to $4.77 and the pennant length suggests this will occur in the next 2 months.
This might encourage shareholders to keep their shares rather than sell at current prices.
Who knows, it might even speed up the process of getting finance/a joint venture agreement.
With a bit of luck the RXM prices might also creep up with the copper price increase.
Chart, page-9
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Last
47.0¢ |
Change
0.005(1.08%) |
Mkt cap ! $368.1M | |||
| Open | High | Low | Value | Volume |
| 46.5¢ | 47.0¢ | 46.5¢ | $3.977M | 8.510M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 26 | 11515797 | 46.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 47.0¢ | 5742426 | 40 |
View Market Depth
| Last trade - 16.10pm 10/10/2024 (20 minute delay) ? |
| RXM (ASX) Chart |