From a technical standpoint, copper is currently flipping a ≈20 year old resistance for support. On a monthly chart, copper is in a multi-year upwards channel, and it’s now close to the upper trend line of that channel. Copper is also at record lows when priced in terms of gold and silver.
From a fundamental, supply/demand perspective, copper is required for electrification, data centers, new buildings, electric vehicles, and electric appliances in general.
From a technical standpoint, copper is currently flipping a ≈20 year old resistance for support. On a monthly chart, copper is in a multi-year upwards channel, and it’s now close to the upper trend line of that channel. Copper is also at record lows when priced in terms of gold and silver.
From a fundamental, supply/demand perspective, copper is required for electrification, data centers, new buildings, electric vehicles, and electric appliances in general.