Dr. Copper is Beginning to Rumble on the Upside - Both Spot Copper and copper producer Freeport-McMoRan Copper & Gold Inc. (FCX) have the right look of "bottoms-in-progress."
Whether the back-story is global (US and China) economic growth acceleration, or a very accommodating Fed that overstays its NZIRP, or both, "Dr. Copper" and its derivatives appear to be setting up significant longer-term bottoms-- presumably ahead of a period of sustained upside.
Copper Miner FCX is leading the metal, and is nearing a confrontation with a 19-month resistance plateau at 38.00, which if hurdled and sustained, should trigger upside continuation that projects to 35.00-36.00 next.
Thanks Mike. Guess Dr. Copper has more demand then supply. That place Obama grew up, that Muslim country, Obama grew up in - In-do-nes-ia . Has cut off Copper production, right? Well they raised taxes real high. USA may have to do away with the penny. What do you think about that?
THANKS FOR YOUR SUPPORT! GO FCX!!!