After testing the gap range for acceptance, price has built a recovery structure, leaving the test of an inverse Head & Shoulders neckline potentially up ahead (measured move extends to $82).
Friday, June 25, 2010
FCX inverse H&S
FCX has been building a descending channel (congestion channel), recently failed a gap above the upper channel line, pulled back and made a recovery move today on above average volume.
After testing the gap range for acceptance, price has built a recovery structure, leaving the test of an inverse Head & Shoulders neckline potentially up ahead (measured move extends to $82).
After testing the gap range for acceptance, price has built a recovery structure, leaving the test of an inverse Head & Shoulders neckline potentially up ahead (measured move extends to $82).
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