Chart of the Day - Wednesday, July 30, 2025

🏆 Today's Chart of the Day was shared by Chris Kimble (@KimbleCharting). 
 

• Copper just had its worst day ever, plunging -18.4%, to a two-month low of $4.62 per pound. 
   
• Just three weeks ago, the metal had its best day ever when prices surged +13% to a record high following Trump's initial plan for a 50% tariff on Copper imports. However, he dialed it back today and sparked the reversal by exempting refined metals from the tariff. 
   
• With just one trading day remaining in July, Chris notes that today's reversal could create the largest bearish reversal wick on the monthly chart spanning the last 20 years. Similar reversals took months or even years to recover from. 
   

The Takeaway: Copper had its worst day on record today, just three weeks after its best session. The monthly candle will likely close tomorrow with a massive upper wick, resembling other meaningful tops in the past two decades.