In an April 22, 2025, Barchart article on the copper market, I concluded:
Watch the COMEX futures and the LME forwards over the coming weeks and months. The forwards indicated that the move to new highs in the futures was tariff-related. Meanwhile, copper’s long-term trend remains high, but sustaining a move to new highs will require the futures and forwards to validate the short-term price action. In April 2025, copper’s long-term bullish path of least resistance remains higher.
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