FCX daily
FCX monthly
Summary
Relative to the past two months of price action in copper, FCX is actually performing rather well indeed...
With a daily close of $15.71, the low $16s are easily viable within the very near term. There will likely be some considerable chop/consolidation in the low $16s.
What really matters - as seen on the monthly chart, is whether FCX can attain a decisive monthly close in the 17s. If that is achieved, its open air to the 24/25s, last seen in Dec'2014. Clearly, it will need copper to stabilise around the $3.00 threshold, and resume broadly upward.
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FCX garners most of the 'copper miner' attention. However, Southern Copper (SCCO) is technically, and arguably also fundamentally, a superior company. A second alternative is Teck Resources, although that has a coal segment, which is a commodity that many want absolutely nothing to do with.
