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Mapping the Market: Copper's pause may be setting the stage for the next leg up

From kitco.com

U.S. copper futures have been treading water since early May, but don't mistake stillness for stagnation. Beneath the surface, the chart is quietly building a case for ​a resumption of the metal's long-running rally. Copper has remained supported by longer-term demand themes tied to artificial intelligence and the energy transition, and U.S. policies have also affected the price. Those forces helped push futures to a trend high of $6.7160 per pound on ​May 13, according to data supplied by LSEG, but the market has since ​shifted into a lower gear. That pause is actually meaningful to chart watchers. The ⁠daily chart ... (full story)

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  • Category: Fundamental Analysis