For a triangle this size, a real breakout in FCX or a strong breakout should have shown a significant increase in volume, yesterday should have been a follow through day with increasing volume.
Here's FCX vs the DOW Copper Index, note FCX just managed to close the gap roughly today.
This is the time period of the breakout, it was actually pretty negative at the highs already. A stop an be placed just above the recent highs or you might consider waiting for a break below the apex of the triangle around $36.50 or below.
Is interest rates about to start going up?
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Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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