Copper futures prices have been strengthening since reaching an A-B-C pattern price bottom in March.
So it shouldn’t come as any surprise that Copper prices surged on Thursday, breaking out over the down-trend line off the February high.
This is bullish for Copper, as well as select copper mining stocks.
Today, I share charts and analysis on two copper stocks that we are bullish on (for a trade): Freeport McMoRan (FCX) and Southern Copper (SCCO). Both stocks have a similar breakout pattern and the overall look of these charts is bullish for a trade.
The author or his firm may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
