Ole Doc Copper has had its head in the sand over the past 6-years, creating lower highs since 2011. Over the past three years it also has created another series of lower highs reflected in the chart below. Doc Copper could be attempting to do something it hasn’t for years in the chart below.
A breakout attempt could be in play this week, as Doc Copper is testing falling resistance line (1) at (2). A breakout here and above highs hit earlier this year, would send bullish message to Copper.
Copper can be played in a few ways, with our favorite being Freeport McMoran (FCX).
Over the past 60-days (since FCX) was purchased it is gained nearly 7% more than the S&P 500 and 13% more than Gold miners GDX.
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