It can go either way. Other commodities... ie oil... imo, is exhausted and has no business going up unless the dollar continues to decline. So if oil is the tell to copper then copper should see a pull back (to the 26 level via the JJC).
Once that happens FCX is a buy. If copper breaks from the 200SMA resistance, then the market should not break down, and FCX is a buy, as copper should continue to rally.