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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