On 10/3/11 I shared the quiz below.  It was quiz reflected that FCX was on a key support line and it rallied 50% following the quiz, in the three months. (see October quiz)

 

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Below is the quiz of this week….Does it happen to look like the one above?    its the same line again, 8 months later!

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Below is the answer to this weeks quiz, reflecting that FCX is back at the same support line as last October, when it rallied 50% in a few months.

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FCX holding support was very key for the broad market last fall, once FCX rallied, so did the broad market.  The last time FCX hit this support line, the rally might have been the right shoulder forming and now the neckline is really important to hold, more important what FCX does now than last fall! 

Back in 2008 when FCX broke support, the 500 index fell hard….The global scene and the broad market need FCX to hold at this neckline right now!!!

 

 

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