Two weeks ago there was a nice bullish signal on FCX, and now the signal is even stronger. It looks like the uptrend that started with a double bottom is still in place, and this sideways movement going on for a couple of months has been a correction. I expect FCX to to back to the old 2013 highs at 38$, that means risking about 60 cents for 4 dollars, a good deal anyday.
I'm sort of bearish on gold, but I'm bullish on copper, and FCX is greatly correlated with copper.
I'm sort of bearish on gold, but I'm bullish on copper, and FCX is greatly correlated with copper.
