I always look to short or buy around value, depending on the preceding trend. On FCX, I have been looking for a short.
On the daily chart, a class A bearish divergence formed, right at value on the weekly; that is a great bearish signal. However, price failed to close below 11.50$, thus never confirming the divergence. Today, there was a very nice bounce, turning the impulse green and making a new swing high.
Whenever such bearish signals fail, it is almost always a good idea to go long; same thing applies to failing bullish signals.
I am looking for FCX to reach the strong resistance area at 17$.
On the daily chart, a class A bearish divergence formed, right at value on the weekly; that is a great bearish signal. However, price failed to close below 11.50$, thus never confirming the divergence. Today, there was a very nice bounce, turning the impulse green and making a new swing high.
Whenever such bearish signals fail, it is almost always a good idea to go long; same thing applies to failing bullish signals.
I am looking for FCX to reach the strong resistance area at 17$.
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Отказ от ответственности
Все виды контента, которые вы можете увидеть на TradingView, не являются финансовыми, инвестиционными, торговыми или любыми другими рекомендациями. Мы не предоставляем советы по покупке и продаже активов. Подробнее — в Условиях использования TradingView.