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Freeport-McMoRan Copper & Gold Rising Wedge

|Includes: Freeport-McMoRan Inc. (FCX)

Looking at the stock chart for Freeport-McMoRan Copper & Gold, ticker symbol FCX, I am seeing a bit of a rising wedge pattern.  Let's take a look:

By connecting the recent tops and the recent lows, we can see that the range of price is squeezing together making a wedge type pattern.  In addition, the wedge is rising upwards while volume is tapering off.  This is a familiar pattern lately as stocks seem to keep setting up bearish chart patterns.

Source http://www.bigmovingstock.com/blog/?p=220



Disclosure: no positions