Tuesday, 18 August 2015

FCX, TCK - copper miners break new lows

With commodities remaining under pressure, the related copper miners of Freeport McMoran (FCX) and Teck Resources (TCK) closed significantly lower by -3.1% and -7.5% respectively. Near/mid term outlook remains bearish.. as copper (and other metals) are set to decline further.

FCX, daily

TCK, daily


Suffice to say... new multi-year lows for FCX and TCK... the horror continues.

With the USD set to battle through the DXY 100 threshold at some point within the next few quarters - and then onward to the 120s, commodities will be under persistent downward pressure.. and that will equate to the related miners similarly weak.