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Freeport-McMoRan Inc. Message Board

  • mpaulenoff mpaulenoff Jul 2, 2014 1:28 PM Flag

    Mike Paulenoff's Mid-Day Minute

    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.

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