Example of Applying the"POWER OF THE PATTERN" to (FCX)
I am honored by your continued interest in my research.
Below is an example of applying the Power of the Pattern to an asset that I monitor and suggested our Premium, Sector/Commodity and Metals subscribers take action to buy back in May. I hope you find the information helpful toward improving your decision-making and results.
We closed out the majority of the position near resistance.
We suggested a purchase of Freeport McMoran Corp (FCX) on May 19, 2017
FCX was hit hard since early 2017, losing nearly a third of its value (1st chart below). This decline had FCX testing dual support, and at the apex of a bullish falling wedge.
Click Image Above to Enlarge
Chart below also reflects that Copper has historically been
at a low for the year around the first of June.
Click Image Above to Enlarge
Freeport held support and broke out of the weekly falling wedge pattern,
rallying as much as 28% over the next several weeks. We closed out the majority of the position near blue resistance line.
Click Image Above to Enlarge
Comparing FCX to the broader copper index and S&P 500, I attempt to identify assets
with potentially greater relative strength to the index or peers
Click Image Above to Enlarge
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All the best,
Chris
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