(FCX) Weak Dollar has put a bid into commodities – driving shares of resources companies

November 29th, 2009

Freeport McMoran Copper Gold Co. (FCX) recently hit another 52-week high above $87 as both gold and copper continue to surge, with gold generating a buzz on the Street while approaching the $1,200 level. Shares of FCX have been riding a very smooth trend line higher for most of the last 6 months, look for this area to provide support on any kind of pullback. Take a look at the nice trend below.

Enterprise Products Partners LP (EPD) has also been on a rally of its own, taking flight on the heels of elevated energy prices. Shares are once again within striking distance of the 52-week high just above $30. We also have a bullish MACD in tow, with the short-term moving average trending above the long-term average. Take a look at the nice move below.

Zacks Investment Research


Similar Posts: | | | | Basic Materials | Copper

RSS feeds: Enterprise Products Partners Lp | EPD | FCX | Freeport-McMoRan Copper & Gold Inc | Basic Materials | Copper |

Other Posts by vitalstocks | RSS Feed for this author

Post a Response

You must be logged in to post a comment.