Copper is commonly known as having a PhD in economics. Why? B/c it is a vital part of the global economy- especially a growing global economy. Therefore, when you see copper plunging >4% today and breaking below multiple areas of support- on a day when the jobs report BEAT estimates. What is that market telling us about the global economy and the broader Risk-On Trade?
This could be a one-off…I have a sneaking suspicion there is more to this story than that. As always, stay tuned.