Will another big “Bounce” take place in the Copper complex right now?

CLICK ON CHART TO ENLARGE

Doc Copper and Freeport McMoran (FCX) , are great leading indicators for the macro picture and find themselves at or near critical support levels.  Yesterday FCX fell hard, driving it down to a support line that has resulted in quality upside rallies over the past 3 years.

Time for another bounce in FCX?  It has paid to buy on support the last three years, will it be any different this time around?     If support would happen to fail, Copper would be sending a message that the global community is about to slow down.

-

Be Sociable, Share!

Comments are closed.