FCX, daily
Only a move above the channel line of $38 would make me moderately bullish on FCX. Arguably, only a break above 40/41 would seriously change the trend.
The miners remain one of the most battered sectors out there (see GDX charts as recently posted), in the near term and into the summer it looks like FCX will probably continue to trend lower. A break under 35.50 would then open up the next primary target - the big $30 level.
