The Bulls couldn't hold 50.58. The trading after the Cup & Handle breakout has the look of one of those unorthodox Head & Shoulders Tops that we've seen so many times. The Right Shoulder is higher than the Left Shoulder, and it "shouldn't be," but the pattern had the same net effect of an orthodox H&S Top: FCX sold off a measured move of a little over twenty cents.
The last rally was a Bearish Rising Wedge. That failed, too, and FCX returned to the bottom of the wedge, prior to the close.
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