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Euro and Freeport McMoran (FCX) have made a series of lower highs over the past 18 months. Both have experienced nice rallies since their July lows, which have brought both of these assets back to falling resistance!
Is now the time for these 18-month old resistance lines to break? Each time this resistance line has held, commodities have been impacted the most, on the downside.
What assets would benefit the most if a breakout takes place? Basic Materials should do very well and Govt bonds would see selling pressure!