Chart-in-Focus: Commodities Are Turning, But Copper May Not Be Where the Alpha Is

Copper has remained one of the stronger commodities over recent months and has extended its primary uptrend by moving into fresh record territory. On the weekly chart, the Copper Index is placed near 6.59 (as of Thursday close) and remains well above its rising 50-week moving average, currently near 5.79. The 14 period RSI is placed around 65.5, reflecting firm momentum without showing an excessively stretched reading on the longer time frame. From a pure price perspective, the broader structure remains strong, and the sequence of higher highs and higher lows continues to remain intact.