Is Freeport McMoRans (FCX) Stock Decline Pointing To Economic Cool-Down?
The Federal Reserve is meeting this week and the talk of the town is inflation. Soft commodities, hard commodities, energy, food, you name it has been up over the past 12 months. BUT, things have cooled off a bit of late just as everyone is yelling INFLATION. Today, rather than looking at individual commodities, we go straight to a stock chart of one of the most visible miners of hard commodities  Freeport McMoRan (FCX). Perhaps Freeport can provide clues about future inflation and growth prospects. As you can see, Freeports stock (FCX) rallied nearly 100% inside of a bullish rising trend channel marked by each (1). But its stock price has struggled of late, breaking below its up-trend line and attempting to decline through important horizontal support at (2). This important company (and commodity/inflation indicator) is on the ropes right now. Stay tuned! Freeport McMoRan (FCX) Chart  Note that KimbleCharting is offering a 2 week Free trial to See It Market readers. Just send me an email to services@kimblechartingsolutions.com for details to get set up. Twitter: @KimbleCharting  Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.