Jun. 22 at 12:19 PM
Copper has gone quiet actually..,
That may be more interesting than another vertical move. After reaching roughly
$6.72/lb in May, U.S. copper futures have spent weeks consolidating instead of giving the entire rally back.
The technical setup now looks fairly simple: Hold the
$6.14–
$6.17 area and the broader bullish structure remains intact. A convincing break above roughly
$6.70 would put price discovery back in focus.
For established copper names like
$FCX and
$HBM, that kind of commodity backdrop can support margins, sentiment and investor attention. Further down the market-cap ladder, it also encourages investors to look for the next generation of projects.
That is where a story like
$NRED.CSE becomes relevant to me. A stronger copper market can bring more eyes to Wilmac. But it cannot replace permit progress, geophysics or drilling. Copper may be preparing for its next decision. NovaRed still has to earn its own😋
