FCX - battling higher

Whilst the main market saw a day of mostly minor chop, the giant miner Freeport McMoran Copper and Gold (FCX) saw strong gains, settling +1.9% @ $35.57.The bigger weekly cycle looks bullish into the low $37s - the Jan'2 high.


FCX, daily

FCX, weekly

Summary

*I was recently long this stock (for earnings), and I kinda missed the bigger part of the move, as the main market broke new highs.
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FCX looks set for the low $37s...but the $40s look unlikely this summer, not least if the broader market does eventually rollover (if only for a few months!)