FCX has been Trading in a Consolidation range since October.
Expect a false breakout to the upside before falling to the Bottom of the range.
Entry $38-$40.00
S/L $42.00
TP1 $36.00
TP2 $35.40
TP3 $33.80
TP4 Open (Inflation)
FCX is approaching our first resistance at 13.62 (horizontal pullback resistance, 61.8% fibonacci extension, 38.2% Fibonacci retracement) where a strong drop might occur below this level to our major support at 11.53 (horizontal swing low support, 50% fibonacci retracement).
Stochastic (55,5,3) is also approaching resistance where we might see a corresponding...
