Alex von Stachelkopf
⬤ Copper just broke through a resistance level that held it back for over 10 years, and the rally isn't slowing down. The metal cleared the 11,600 zone that acted as a ceiling since the early 2010s and is now trading around 13,250. What makes this move interesting? Copper's still below its M2-adjusted level, meaning there could be more room to run even after this breakout.
⬤ The chart tells the story clearly—years of higher lows kept testing that horizontal resistance until it finally gave way. Now we're seeing strong follow-through instead of a quick spike and fade. The RSI pushed above 70 and the MACD turned solidly positive, showing real momentum behind this move. That old resistance around 11,600? It's now acting as support, which is exactly what you want to see after a legitimate breakout.
⬤ Copper ETFs like COPX and CPER tracked the metal higher, giving traders easier ways to play this trend. The move wasn't built on one big candle—it's been steady buying pressure pushing prices up step by step. No reversal signals showing up yet, and the technical setup suggests this breakout has legs rather than being a head-fake.
⬤ Why does this matter beyond just copper? Smart money watches this metal as a real-time gauge of industrial demand and economic health. When copper clears a 10-year resistance level, it sends signals across commodities, mining stocks, and macro markets. The fact that it's still trading below its inflation-adjusted value tells you the market's been skeptical—but that technical breakthrough just reset the conversation about where prices could head next.
Alex von Stachelkopf
