While the stock market’s push toward recovery is underway, some notable sectors are still lagging. One notable commodity that’s beginning to regain lost ground is copper. In recent months, copper has recovered from its 52-week low and now shows signs of bullishness. Demand for copper has remained strong as it is one of the most widely used metals in various industries.
Copper futures have started to recover after hitting its 52-week low, and it recently started trading above its 100-day moving average. Prices have also formed a notable ascending triangle that is narrowing. RSI is also staying above fifty, indicating accelerated momentum. Indeed, commodities traders and investors may already be gearing up, setting entry and exit prices while waiting for the possible breakout.
