Pseudonymous trader Bluntz says copper may be setting up for a major breakout, arguing that its chart is showing a “striking similarity” to silver before that metal surged. Sharing his view with roughly 338,000 followers on X, he suggested that copper is now following much of the same playbook silver used during its earlier rally.
Technical setup points to a possible breakout
According to Bluntz, copper has been grinding higher inside a rising channel for about three years. That slow and steady climb has left many traders bored, but he argues the structure is important: repeated tests of the upper boundary can signal that resistance is weakening and that a repricing move may be near.
He said the exact timing is unclear, but estimated that a breakout could arrive within the next 4 to 6 months. If a “real breakout” happens, Bluntz believes copper could move quickly, much like silver’s parabolic rally in late 2025, with the potential to double rapidly once momentum takes hold.
Fundamental demand story remains supportive
The bullish case is not based on charts alone. Investor Frank Giustra recently argued that copper is at the start of a possible “supercycle,” driven by the global push toward electrification. He pointed to rising demand from data centers, electric vehicles, solar and wind farms, charging infrastructure, and broader power grid expansion.
Giustra warned that copper is approaching a “supply cliff,” describing the issue as structural rather than cyclical. In his view, the world would need six new giant Tier 1 mines every year by 2050 just to satisfy baseline demand, even before accounting for additional needs tied to data centers, electrification and grid upgrades.
Copper has lagged other metals so far
At the time cited in the report, copper was trading around $5.83. While gold, silver, platinum and other metals have posted stronger headline moves, copper has remained relatively restrained. The article notes that copper is only about 25% above its 2011 peak, suggesting that, if the bullish thesis proves correct, the market may still have room for a broader revaluation.
For now, the setup combines a long-term technical pattern with a tightening supply-demand narrative. Still, Bluntz stressed that the trade may take months to play out, and the breakout timeline remains uncertain.