Today we will see whether we see a rally in the markets or not. Important data from the US will show whether inflation is under control, a soft landing becomes a reality and interest rates are lowered earlier - as hoped and expected in December.
A look at the copper chart (daily and hourly) shows 2 things. In the daily chart we seem to be stuck in an ascending triangle - the resistance to clear the way upwards is at USD/lb 4.00. A break paves the way towards 4.50.
In the hourly chart, we seem to have broken the downtrend that has been in place since the end of 2023. Corresponding figures from the USA could trigger a stronger upward movement.
The big unknown is China. If the economy here recovers more strongly than most augurs have recently expected, this could actually lead to a strong upward movement for the copper price.Whether HMX will then be able to profit from this is another matter.
In any case, the SP movements of HMX and CNB are similar again today. Almost like twins.
Then I listened to the opinion of a "mining/commodities" veteran - he said that it will be crucial for junior explorers to join forces to offer the big boy a more rewarding target. He expects a wave of consolidation over the next 1-3 years - just as he sees CU prices rising sharply over this period. Well, we'll see.
I'd love to see an update from "the front" next week. DYOR
- Forums
- ASX - By Stock
- HMX
- Ann: Mount Isa East JV Drill Testing of Multiple Targets Underway
Ann: Mount Isa East JV Drill Testing of Multiple Targets Underway, page-15
-
- There are more pages in this discussion • 25 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add HMX (ASX) to my watchlist
(20min delay)
|
|||||
Last
3.9¢ |
Change
0.001(2.63%) |
Mkt cap ! $34.56M |
Open | High | Low | Value | Volume |
3.9¢ | 3.9¢ | 3.9¢ | $1.985K | 50.9K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 79999 | 3.8¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
3.9¢ | 204013 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 79999 | 0.038 |
4 | 461605 | 0.037 |
2 | 175000 | 0.036 |
4 | 862683 | 0.035 |
4 | 225000 | 0.034 |
Price($) | Vol. | No. |
---|---|---|
0.039 | 204013 | 2 |
0.040 | 200000 | 1 |
0.041 | 300000 | 2 |
0.042 | 281186 | 4 |
0.043 | 242000 | 3 |
Last trade - 10.04am 17/10/2024 (20 minute delay) ? |
Featured News
HMX (ASX) Chart |
The Watchlist
JBY
JAMES BAY MINERALS LIMITED
Andrew Dornan, Executive Director
Andrew Dornan
Executive Director
Previous Video
Next Video
SPONSORED BY The Market Online