Copper’s Bull Market Isn’t Dead — It’s Just on Sale

Last week, I told my paid readership group that it’s time to start looking beyond the panic.

We may not have reached the bottom yet, but we could be close.

And that has the potential to deliver exceptional opportunities in the resource market if you can look past today’s deep pessimism.

You see, there’s a desperate sense of cataclysm sweeping markets, and it’s crushing ASX resource names.

Right on cue, I came across a headline this morning declaring that copper has entered a ‘bear market’ thanks entirely to the crisis in the Middle East.

But that’s rubbish, and here’s why

Copper only recently broke past its historic resistance level of $5 per pound.

That’s a level that copper has never been able to break in recent memory, including the major copper boom of the early 2000s.

Copper futures have tested this level several times in recent years, including the 2022 high, and again in 2024.

But late last year, copper finally broke out of this key resistance zone. And as I said at the time, it’s the type of price action that could place copper on a long-term bullish trajectory.

That view still holds despite the oil market crisis.

As you can see, copper has corrected a little, but this is certainly not a price breakdown like some are declaring:

Source: Trading View

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As of writing, copper futures sit at around $5.30 per pound.

But the thing is, copper could fall much further from here and still remain in a healthy long-term bull market.

Nevertheless, we can’t ignore the market response… Certain copper stocks are now down 30-40% from their highs earlier this year.

But as I’ve shown you in the past, commodity markets tend to experience extreme price volatility, stocks overreact and fall more than the underlying metal.

That’s why pessimism is the opportunity for investors. If you have the discipline, use it.

This is the time to look for the highest-quality names in the sector.

Until next time.