Confirming a Reversal

Posted by Wendy Kirkland | Apr 1, 2026 | Wendy's Daily Profit Play | 0 |

Freeport-McMoRan (FCX) is attempting to stabilize after a sharp pullback from recent highs, with price rebounding off the lower Keltner Channel and moving back toward the midline. The recent decline pushed price to the lower end of its range, but the Ease of Movement (EMV) indicator shows a sharp recovery from deeply negative levels, suggesting that downward pressure is easing and buyers are able to move price more efficiently to the upside.

This supports the case for a short-term relief rally; however, FCX remains below prior highs and still faces resistance near the mid to upper channel. For short-term options traders, this creates a potential bounce opportunity, but any stall near resistance could shift momentum back in favor of downside continuation.

Wishing you the best,

Wendy

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About The Author

Wendy Kirkland

About the Author Wendy Kirkland has been successfully analyzing the market trends and sharing her profitable patterns with other like-minded option traders since 2009. She is best known for her P3 pattern that works in any market and a variety of time frames. Wendy has written 16 books that use variations of this pattern and others that she has developed to fulfill her personal goal of helping others achieve their own personal financial independence. Early Career For twenty-five years, Wendy Kirkland was a working partner in a gift shop located in Historic Biltmore Village in Asheville, NC. The business supported her family of three children with a good life, but, as Wendy neared retirement age, she realized she and her husband Jack had left themselves out of the financial equation. They'd set up a retirement account, but, over the years, others' needs always seemed more pressing, and retirement seemed a lifetime away. Journey to Option Trading Her search and need to take immediate control of her financial future brought her to option trading and the financial leverage it offers. Finding the potential to make a full-time income while working on a part-time basis, Wendy wrote, How To Trade Options to give others the opportunity to benefit from this income source that can be worked a few hours a week from home or anywhere else. Since that time, she has written 16 books that are available from a variety of sources. Teaching Approach Wendy’s programs take her students all the way from getting past the perceptions that Options have to be complicated all the way to daily trading examples. Readers quickly understand what a Call Option and Put Option are and all of the other fundamentals they need to succeed. 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