w/ the big move in copper, companies like FCX have taken off.
it’s a nice picture of a two buy patterns coming into play, a breaking of the inverse head and shoulders and now, POTENTIALLY a move back to the neckline or a little lower for a BUY.
here’s the rub … while this move in copper is IMPRESSIVE I’m not sure if it’s just a counter trend bounce. So … when copper gets up to the 3.0 level I would monitor FCX closely. let me know if you have any questions.
also, note, watch REAL rotation into this stock via AMZN/FCX ratio analysis. Believe it or not, from a relative strength basis, FCX (on a relative strength basis) has outperformed AMZN. So, if it’s really being rotated into … the pattern shown below will fail and go higher, filling the gap and taking off …