May 10: 17-year long correction ended, generational buy
Monthly chart shows
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
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