Usman Salis
Copper is trading at $4.9175 with a solid 1.40% daily gain, testing crucial resistance levels that could trigger a massive rally. Traders are watching closely as the metal approaches its 2022 highs with improving macro conditions backing the move.
Copper Price Tests Multi-Year Resistance
According to a recent tweet by trader @great_martis, copper is showing signs of a potential breakout. The price is currently trading at $4.9175, up +1.40% on the day. This move follows months of gradual recovery since Q2 2024, after a long consolidation phase.
On the 5-year chart, copper is now testing a key horizontal resistance around $4.89–$4.92. The major overhead level at $5.4281—its all-time high from 2022—remains the next upside target.
Cooling Inflation Supports Breakout Scenario
That inflation is under control, which reduces pressure on central banks and strengthens the case for commodities like copper. If copper closes above the $5.4281 level, it could trigger a breakout into uncharted territory.
With macro conditions improving and technicals aligning, copper could soon be headed for a major rally, catching the attention of both traders and long-term investors.
Copper Price Targets and What's Next
Bottom line - copper's sitting at a make-or-break moment right here. The technicals are lining up, the macro environment is getting friendlier, and traders are starting to take notice. If this breakout actually happens, it could be one of those moves that catches everyone off guard.
The key thing to watch is whether copper can actually hold above these resistance levels and not just fake everyone out with another false breakout. But with everything coming together like this, copper might finally be ready for that major rally everyone's been waiting for.
Usman Salis
