Agoracom: Small Cap Investment - Copper Fox Metals Inc. - Copper

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CUU own 25% Schaft Creek: proven/probable min. reserves/940.8m tonnes = 0.27% copper, 0.19 g/t gold, 0.018% moly and 1.72 g/t silver containing: 5.6b lbs copper, 5.8m ounces gold, 363.5m lbs moly and 51.7m ounces silver; (Recoverable CuEq 0.46%)

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herbie1

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Copper - Is the correction the end of the rally?

posted on Jun 08, 2024 09:31AM

I was wondering that myself, but this article has eased my fears.

In a May 7 Barchart article, I asked if Copper was heading for a new record high. The nearby July COMEX futures price was at the $4.6255 level on May 6, and the bullish trend threatened to challenge the March 2022 $5.01 high. I highlighted that the technical trend, climate change initiatives, and production struggling to keep up with the rising demand presented a compelling bullish case for copper.

Copper’s correction from its most recent high has not negated the long-term bullish trend. The odds continue to favor even higher highs over the coming months.