Those of you who follow my writings know that $FCX is one of my key tells for the broad market. See my notes in the charts below for details…
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Joined Apr 1, 2010
8,861 Blog Posts
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Good observation, as always.
Love the long term charts.
Hi CNW, been following since the uptrend from late Feb., you became one of my must read every night after my day job, thanks for all the good work. Can I ask what your thoughts on CEDC, it seems to have the similar pattern on your play on BX?
Thanks for reading.
CEDC has a much improved chart, with a high volume move off of the 20 & 50 day m.a.’s. I like it, but I would expect some backing and filling, rather than a straight shot higher b/c that is how the bottoming process usually works.
I misread the chart note at first….
“FOLLOW THE LIGHT…” heh.
So even though 100 per wily is trending down, you see it as long term support?
Good point. It is still sloping down, so this is all the more reason why turning it into support would be wildly bullish, as the 100 would presumably turn up with price in the coming months. Huge, huge test.
Ain’t going to happen, down she goes! Do you read the news?
I’m listening…If you think FCX is going down, fine. I have no position in the name, and am merely pointing our bullish developments that need to hold.
Explain your reasoning.
Thanks.
maybe a rising 100 wk ma
maybe