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I like this….”Tops are a process and Bottoms are events!”
With this in mind, we have to look for a slow process of building tops/highs, in all assets/products. FCX is down over 10% of late and has taken out a steep support line at (1) in the above chart and Copper is testing support right now at (3). The copper industry more often than not, is a decent reflection of the global economy. Keep a close eye on these two going forward!!!
I mentioned yesterday that this situation coud benefit portfolios, via owning SMN!