Big-time test for ole Dr. Copper (FCX) and the Euro
Euro and Freeport McMoran (FCX) have made a series of lower highs over the past 18 months.
CLICK ON CHART TO ENLARGE
Euro and Freeport McMoran (FCX) have made a series of lower highs over the past 18 months. Both have experienced nice rallies since their July lows, which have brought both of these assets back to falling resistance!
Is now the time for these 18-month old resistance lines to break? Each time this resistance line has held, commodities have been impacted the most, on the downside.
What assets would benefit the most if a breakout takes place? Basic Materials should do very well and Govt bonds would see selling pressure!
Contributed by Chris Kimble, Kimble Charting Solutions
Sign up for Wall Street Sector Selector’s FREE Stock Market Timing Indicator!
Disclaimer: The content included herein is for educational and informational purposes only, and readers agree to Wall Street Sector Selector’s Disclaimer, Terms of Service, and Privacy Policy before accessing or using this or any other publication by Wall Street Sector Selector or Ridgeline Media Group, LLC.
Related Posts
Disclaimer: The content included herein is for educational and informational purposes only, and readers agree to Wall Street Sector Selector's Disclaimer, Terms of Use, and Privacy Policy before accessing or using this or any other publication by Wall Street Sector Selector or Ridgeline Media Group, LLC.
