Copper futures spiked—largest intraday gain in decades—after Trump announced a 50% import tariff.
Market fears supply disruption, especially from major exporters like Chile and Peru.
Bullish short-term outlook as U.S. buyers may rush to stockpile ahead of enforcement.
Risk of retaliation or broader trade tensions could limit gains if global demand weakens.
Watch for:
Tariff implementation details
COMEX/LME inventory shifts
China demand signals
Currency moves (AUD, CLP)
Trading bias: Bullish copper short term, but remain alert for macro trade war risks.
Key Support and Resistance Levels
Resistance Level 1: 9,780
Resistance Level 2: 9,900
Resistance Level 3: 10,000
Support Level 1: 9,580
Support Level 2: 9,500
Support Level 3: 9,340
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
Market fears supply disruption, especially from major exporters like Chile and Peru.
Bullish short-term outlook as U.S. buyers may rush to stockpile ahead of enforcement.
Risk of retaliation or broader trade tensions could limit gains if global demand weakens.
Watch for:
Tariff implementation details
COMEX/LME inventory shifts
China demand signals
Currency moves (AUD, CLP)
Trading bias: Bullish copper short term, but remain alert for macro trade war risks.
Key Support and Resistance Levels
Resistance Level 1: 9,780
Resistance Level 2: 9,900
Resistance Level 3: 10,000
Support Level 1: 9,580
Support Level 2: 9,500
Support Level 3: 9,340
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.