FCX Pops on Higher Copper Prices, Tests 10 Month Resistance Line

FCX has gapped up this AM, and is challenging its 10 month resistance line, now in the vicinity of 15.45, which if hurdled and sustained on a closing basis, will trigger potential to my next projected target zone at 17.00. Only a failure to sustain above 15.45 followed by a decline that breaks 14.30 will wreck the current set up.

10 16 17 FCX Day GIF
10 16 17 FCX Day GIF
  • 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!