May 10: 17-year long correction ended, generational buy
Monthly chart shows AMEX:FM was in a 17-year long WXY correction which bounced strongly at the 0.618 fib (common for a truncated last wave for long-term correction).
The Daily shows that it has been nesting to the upside and is very close to breaking above the previous pivot. Once it breaks above, we can confirm that the correction has ended.
Looking at other copper stocks like
FCX and also 
COPX, it is very likely that FM just lagged behind and the whole copper sector has indeed ended its decade-long correction.
Minimum upside target is 121.5
The Daily shows that it has been nesting to the upside and is very close to breaking above the previous pivot. Once it breaks above, we can confirm that the correction has ended.
Looking at other copper stocks like
FCX and also COPX, it is very likely that FM just lagged behind and the whole copper sector has indeed ended its decade-long correction. Minimum upside target is 121.5
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.