Yesterday we recommended to open 1/3 long FCX positions because of the unconfirmed reversal. Today we recommend to open the remaining 2/3 long positions. We just had an intraday price structure bullish reversal. Stoploss is 13.13.
Yesterday we recommended to open 1/3 long FCX positions because of the unconfirmed reversal. Today we recommend to open the remaining 2/3 long positions. We just had an intraday price structure bullish reversal. Stoploss is 13.13.
It’s time to open 1/3 FCX long position. It’s not confirmed the bottom at 14.01 yet, but the intraday behavior indicates the likelihood of coming of the weekly cycle bottom from here. The absolute stoploss is 13.13.
It’s been 18 weeks since the last FCX weekly cycle low was made on 10/14/2016 at 9.24. This cycle clearly took out the previous cycle high at 14.06. And FCX has made a higher high in this complex weekly cycle. It has a clear alpha high and beta high. All signs point to a continuation of the up trend.
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