As Copper Goes …

We’ve all heard the saying:

‘As copper goes, so goes the economy’.

While the financial press attempts to figure out the ‘real economy‘, one barometer of said economy, has already headed lower.

Copper’s initial top, more specifically, Freeport-McMoRan Inc., (FCX), was first covered in this post.

It’s been a struggle ever since.

Freeport-McMoRan Inc., FCX Weekly

The original ‘Up-Thrust’ data point is shown along with a (potential) terminating wedge.

After the top, were several tests higher; all have failed.

Now we’re at the wedge boundary, set for a breakdown (not advice, not a recommendation).

Looks like FCX, is showing us the ‘real economy’.

Stay Tuned

Charts by StockCharts

Note:  Posts on this site are for education purposes only.  They provide one firm’s insight on the markets.  Not investment advice.  See additional disclaimer here.

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