Southern Copper (PCU),
a large mining company with operations in Mexico and Peru, peaked
on July 23, 2007 at $116 after a multi-year price upside. Since
making a quick 35 percent correction, PCU has been on the upside,
and it is currently headed toward its old high.
If PCU fails to move above the old high, it will form a double
top, a bearish pattern. Be careful with PCU at these lofty prices.
Related Articles:
Price Patterns - A Bubble
Top Is an Extreme Pattern
Price Patterns - A
Double Top Signals a Downside
Price Patterns
- Resistance Levels Are Barriers to Price Upsides
Price Upsides
Often Occur in Three Stages
Posted September 4, 2007.
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