November 23, 2016

#Copper and copper #MiningStocks


Attached is the weekly copper chart

(attachment 1). The copper price had

an excellent run from US$ 2.10 per pound

to around US$ 2.70 per pound. The price

looks stretched at the moment. The PPO

(upper chart) is very high. PPO stands for

Percentage Price Oscillator and is a

momentum oscillator that measures the

difference between two moving averages

as a percentage of the larger moving

average. The 1-year copper chart (attachment 2)

indicates that copper prices haven't been as high

for 2016.

 

Copper stocks had a great day yesterday:

 

Copper Mountain (CUM)                            CAD  0.81            +11.0%

HudBay Minerals (HBM)                           CAD  8.83            +  9.3%

Lundin Mining (LUN)                                CAD  6.79            +  7.3%

Taseko Mines (TKO)                                  CAD  0.76            +  7.0%

First Quantum Minerals (FM)                     CAD 15.73           +  6.3%

Nevsun Resources (NSU)                           CAD   4.35           +  5.8%

 


 

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