OTCPK:CPPMF - Post by User
Comment by
eebleron Nov 02, 2010 6:30pm
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Post# 17647865
RE: Copper up a nickle
RE: Copper up a nickleThe MACD histogram started heading back down as of Oct 12th when it touched 5.00, so that is why all the gyrations and gradual weakness. It still has a bit of a ways to go before it hits Oversold, but when compared to the last time it hit oversold that might only take another day or two, and then it could/should bottom and regroup. We might be looking at a pullback into the 4.55-4.45 range.
The glow has been stolen a bit by announcements at other coppers recently in terms of increases in resources/reserves, eg. WRN and DNT both had announcements, and some of the bigger producers like III are definitely catching interest. Moly is on the rise as well so some people may be switching from this horse over to ones like General Moly to catch a new wave now that this one is taking a rest. It simply creates an opportunity to load up on more and wait for the re-rating process to continue as CUM gets closer to production.
eebler