FCX Profits Taken

April 4, 2025

Just a quick note as I’m still preparing today’s regular Gold Trading Alert:

Our profit-take level for the FCX was just reached. The profit take was at $30.23, and today’s intraday low (so far) is $29.96.

This means that while the decline is very likely to continue in the following weeks/months, at this time the risk/reward favors staying out of the market, waiting to re-enter the trade. In other words, I think that cashing out on the short position and all related options is justified from the risk to reward point of view. Congratulations!

We might get a quick slide to $28.5 or so (target based on the head and shoulders pattern), but $30 also provides a strong psychological support and this might be enough given how sharp this week’s slide has been.

The support for stocks is just around the corner, and the rebound in both (S&P 500) and FCX might be aligned.

I’ll write more soon - just wanted to send this out to you ASAP.

Thank you.

Sincerely,

Przemysław K. Radomski, CFA