FCX Freeport McMoran Weekly Chart H&S

No surprise that the moves in FCX mirror the copper moves since that is their specialty. FCX is dealing with headaches at their mines currently adding to weakness in price. Same H&S pattern on FCX as copper. Head at 60 and neckline at 45 targeted 30 which was achieved. Watch price as it tests the 200 week MA resistance ceiling now at 37.3-ish. The 20 week is under the 50 week MA is very bearish.

The red circles show the lower lows in October and price was not even as low as mid-2010 price. Thus, price exploring lower levels is likely. Projection is sideways to sideways lower for the weeks and months ahead.This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your financial advisor before making any investment decision.