CorrectedWe are just meeting a resistance. The Fibonacci levels are not yet reached but as this rising support is lasting for half a year already I think that it is worth to take a posion on the trend here.
FCXCL trade ideas
Survivor of the biggest point drop In History #10 (FCX)The majority of the last 10 ideas look similar. (Price Patterns) (Resistance Breakouts) and in different Industries, from basic materials to Finance Industry.
But the pullback is different in each one In this case the pullback is ready with a swing low in progress.
The process for share and idea is:
* Resistance line breakout
* Pullback
* Swing low
Always check the long termLong term charts show previous support and breaks to avoid chasing, even better, all data long term, this broke fast as the weekly slowly rolled over but we can see the -ve divergence on the daily as recent highs were attempted while the RSI failed at 61.8 and the hourly at 50, both declining, if not in on the short before the break, watch your entry as potential support isn't far
away at $17 area
Freeport-McMoran stock to multiply 3x, at $20 now targets $60Freeport-McMoran Copped & Gold has put in a solid bottom at an important support level, with strong underlying fundamentals. This should now test upside resistance level above $60.
freeport #quarterforshortLongterm i am looking to be long but right now i will place a short at 18,64 and see if i cant some money on the way to my buy limits. placed a quarte position so not risjing too much either. #Trade618Pro, #entrylevels
Freeport LongsShout out to #backstagenews for looking out. fundamentals look good. future potential. Longterm Long. Looking to enter at lowest target 15,86, next 16,67 then 17,52 as closest target. soft targets are 24, 31, 38. #waitandsee #Trade618Pro #takeitorleaveit
AccumulateThe pullback may not necessarily hit the channel line before it rebounds though that is a guide only.
Go to smaller time frame, draw a diagonal channel line to see if price action breaks down. Sell only if you are going for counter-trend strategy, a risk move that requires experience. I had a few wins based on luck but would not encourage at all. Accumulate on dips
Bearish seasonality approaching for FCXBearish seasonality approaching for FCX
Starts from January 4 - January 21
FCX Is currently in line with macd conditionsWe first estimate the high price, then see if we will attack again.
McMoran signals goin' north ? Freeport McMoran has completed a pennant pattern, while found it's short-term support. It has also kept its track on the long-run support trend line. Copper price is also keepin' it up.
It just seems like a good time to start buying, ain't it?
