Copper Holds Near All‑Time High as Double‑Top Threats Mount

Copper prices have steadied, trading just 1 % below the recent all‑time peak, but technical analysts warn that a double‑top pattern could signal a reversal. The metal’s spot price, hovering around $9.50 per pound, has stalled after a brief rally that pushed it close to the $9.60 record set earlier this month. Market watchers note that the formation of a second top at similar levels could trigger a downward correction, adding caution to the bullish outlook. Traders are closely monitoring support and resistance zones to gauge whether copper will break back above its peak or retreat to lower levels. The commodity remains a key indicator of global industrial demand, and any shift in its trajectory could ripple across related sectors.