Chart of the Day - Wednesday, February 19, 2025

• Copper futures are testing all-time highs after closing above $5.00 per pound for the first time in nearly a year yesterday. 
   
• Copper corrected -22% last year after a Failed Breakout above $5.00 last May. However, it built a 10-month base during the recovery process. 
   
• That 10-month base represents the 'right shoulder' of a bullish Head & Shoulders Pattern. $5.00 has been a brick wall since 2021, but a decisive breakout could lead to a sustainable uptrend. 
   

The Takeaway: Copper is flirting with all-time highs after building a bullish Head & Shoulders over the past four years. To read more on Copper and other Commodities, check out Sam's full note here.