I am pretty bullish about copper in the medium to long-term. This weekly chart shows a strong breakout move above the prior resistance at $2.72. The price extension has faltered around the 1.27% Fib extension however and I think for a sustained larger long term move we now need to see this succesfully backtest the breakout area / 200 weekly moving average to consolidate the support at that level.
Seasonally the price history supports strong gains during July and some give back of those during August.
Seasonally the price history supports strong gains during July and some give back of those during August.