Gold seems to continue to run. The upside resistance could be in the USD/oz 2160 to 2200 range - possibly an overshoot to 2300. I personally see prices heading towards 3000 by 2025, but that's another story.
What is copper doing after this endless back and forth?
I have added 2 charts. We are approaching USD/lb 3.90. I see resistance at 3.90 - then around 3.97. 4.00 is more psychological - the zone around 4.03 is more decisive. Above 4.10 we would see a clear buy signal. Where could this end? Depending on whether the breakout is rather violent (which I would almost think after such a long back and forth phase) or whether the movement is rather gentle - prices around 4.30-4.50 could be possible in the next 6-8 weeks or so.
The lower chart (gold vs. CU) could indicate that gold is about 1 to 2 weeks ahead of the copper price trend. If there is a correlation. I think it is worth keeping an eye on the development.
I can't imagine that a run by CU above the USD/lb 4.00 mark could be without any influence on HMX (and other explorers). Furthermore, some experts are of the opinion that 2024 offers a whole bundle of opportunities - especially for junior explorers and/or developers - less so for the "big boys". We shall see.
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Last
3.8¢ |
Change
-0.001(2.56%) |
Mkt cap ! $33.68M |
Open | High | Low | Value | Volume |
3.9¢ | 4.0¢ | 3.8¢ | $54.19K | 1.400M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 35015 | 3.8¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
4.0¢ | 328045 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 35015 | 0.038 |
3 | 197990 | 0.037 |
1 | 200000 | 0.036 |
2 | 349999 | 0.035 |
3 | 175000 | 0.034 |
Price($) | Vol. | No. |
---|---|---|
0.040 | 328045 | 4 |
0.041 | 55000 | 1 |
0.042 | 246000 | 2 |
0.043 | 231750 | 3 |
0.044 | 625703 | 3 |
Last trade - 15.35pm 04/10/2024 (20 minute delay) ? |
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