Several positive technical indications show that copper may be starting another long and sustained move to the upside. Here's the chart analysis.
Information that is both timely and valid is a cornerstone to success in profitable investing. We have identified the correct “signal" for copper. Now, all we have to do is be patient and wait for it to confirm that copper, like gold stocks, is on its way to test old highs.
Recently all eyes have been on gold – and to a lesser extent, silver. So what about copper? Here is a breakdown of the key level of copper, as well as a bellwether stock for the sector.
The market seems to like the news coming out of Excelsior Mining Corp. (TSX:MIN, OTCQX:EXMGF) recently as their in-situ copper leaching project is on track to transitioning the company to producer status this quarter. Here is a look at the breakout of Excelsior Mining and another look at the copper chart.
A week ago, in our educational segment 002, we took a close look at how a positive MACD crossover of the signal line over the trigger line when both lines were above the zero line was noted for Wallbridge Mining (TSX: WM). This positive chart condition sometimes offers clues for “better things to come”. Here's how that played out and what we see in copper today.
Here's a look at the weekly copper chart analysis for October and why we need to see a coppper price of $2.75 to reawaken bullish interest.