Chart of the Day - Tuesday, July 8, 2025

🏆  Today's Chart of the Day was shared by Jason Perz (@JasonP138).
 

• Copper had its best day ever today, with futures surging more than +13% as Trump threatened to impose a 50% tariff on Copper imports.  
   
• It closed decisively above resistance, emerging from a four-year base. While previous breakouts have failed, this one could have legs if $5.20 holds as support in the near term.
   
• Copper Mining stocks were suspiciously quiet today, with $COPX gaining less than one percent. However, if these stocks begin to participate, it will further reinforce the bull case. Continued strength from Copper would be a positive sign for both the stock market and the economy, given the metal's reputation as a leading indicator. 
   

The Takeaway: Copper had a record-breaking day, with futures surging more than +13% to an all-time high. The metal is emerging from a four-year base and kicking off a potential leg higher.