Upside Breakout for FCX

Let's notice that Freeport McMoran Copper & Gold (FCX) has accelerated above key near-term resistance at 53.20/40 and has followed through so far to 54.00.  This looks to me like a strong upside breakout from a 4-week bottoming period in the aftermath of a major correction within its dominant bull trend.

If my work proves correct, then FCX is on its way to 57.50-58.00 next, and on any significant weakness should not violate support at 51.00.

  • Action-Oriented Trade Set-Ups in Stocks & ETFs
  • Macro Analysis of the Broader Markets
  • Detailed Technical Guidance for each Trading Idea
  • Live Interaction w/ Mike & Our Member Community
  • And Much, Much More!
Join Now! - Special Offer!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!