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
44.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $346.7M | |||
| Open | High | Low | Value | Volume |
| 44.5¢ | 44.8¢ | 44.0¢ | $2.320M | 5.216M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 49 | 9373567 | 44.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 44.5¢ | 1429320 | 14 |
View Market Depth
| Last trade - 16.10pm 01/08/2024 (20 minute delay) ? |
| RXM (ASX) Chart |