FCX - a third day higher

Whilst the main market settled fractionally mixed, there was further significant strength in Freeport McMoRan, which settled higher for a third consecutive day, +2.5% to $14.48. Near term outlook offers threat of the $13.30/20s into early October. More broadly, first soft target are the $17s, and then the $24s.


FCX daily

FCX monthly

Summary

Suffice to add, FCX is near term choppy, leaning on the weaker side, as copper has cooled from a recent high of $3.18. Considering the August copper settlement above the very important $3.00 threshold, I have to be mid term bullish the copper miners of FCX, TECK, and SCCO.
--

Mainstream attention...

Pete Najarian of https://investitute.com highlighting FCX.

I should add, from a pure 'technical perspective', Southern Copper (SCCO) is the strongest, Teck Resources (TECK) is second, with FCX the third strongest.
--


Copper, weekly

The bullish view for the miners is only dropped if copper breaks under mid term rising trend, currently at $2.70, and which will be around $2.90 by year end.