Freeport-McMoRan Inc., (FCX) takes part in the mining of minerals in North America, South America & Indonesia. It mostly checks out for Copper, GoldMolybdenum, Silver & other metals. It is based in Phoenix, Arizona, United States, comes under Basic Materials sector & & trades as “FCX” ticker at NYSE.
FCX ended (( 1 )) of III at $46.73 high & & prefers pullback in (( 2 )) correction as 7 swings structure in everyday. It prefers restorative pullback in (Y) of (( 2 )) & & stay choppy before turning greater in (( 3 )).
FCX– Elliott wave Latest Weekly View:
Considering that January-2016 low, it responded greater in I as impulse series ended at $51.99 high in March-2022 peak. Listed below there, it ended II as 3 swing correction at $24.80 low as more than 0.5 Fibonacci retracement of I. It preferred greater in (( 1 )) of III, which ended at $46.73 high. Within (( 1 )), it put (1) at $33.89 high, (2) at $26.03 low as dip pullback, (3) at $41.16 high, (4) at $36.85 low & & (5 )at $46.73 high as (( 1 )). Listed below there, it prefers restorative pullback in (( 2 )) & & anticipate disadvantage in (Y) of (( 2 )) as it broke listed below (W) low.
FCX– Elliott Wave Latest Daily View:
Listed below (( 1 )), it put (W) at $33.05 low as 3 swing pullback. It ended (X) port bounce at $44.70 high & & began responding lower in (Y) of (( 2 )). It preferred ended W of (Y) at $32.83 low & & X at $43.42 high. Listed below there, it prefers lower in ((a)) of Y of (Y) & & anticipate little drawback before it ought to bounce in ((b)), which stop working in ((c)) listed below W low to end up (Y) towards $31.01- $27.77 location. As long as it holds above II low of $24.80, it anticipates to turn greater in (( 3 )) or a minimum of can see 3 swing bounce.
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