Copper Rebounds But FCX Has Preferred Technical Set-Up

Copper futures definitely have the right look of the establishment of a significant lower-low with the price structure having initiated a recovery rally.

Purely from an intermediate-term pattern perspective, however, Freeport-McMoRan Copper & Gold Inc. (FCX) has a potentially more powerful set-up, if only because it did not press to new lows despite the plunge in copper prices.

Furthermore, the higher-low in FCX preserves the integrity of the 2-1/2 year base formation.


  Matched
x
  • In our live, interactive Trading Room, we identify trading opportunities in ...
  • Equity Index Futures
  • Index & Sector ETFs
  • Individual Stocks
  • Precious Metals
  • Energy
  • Forex
  • Treasuries
  • International Markets
  • And Much More
Join MPTrader Now!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!