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I’ve been trading for decades, and I can honestly say I haven’t seen a candle like this — maybe ever — in copper.
What happened with copper this week was one of the craziest moves I’ve witnessed. We’re talking about a 22.61% single-day plunge that took it from recent highs near $5.95 all the way down to $4.55. This wasn’t just a red day — this was a historic commodity meltdown.
The catalyst?
Trump’s decision to exclude refined copper products from tariff packages while maintaining tariffs on copper ore and concentrates. But here’s what made this move so devastating…
Traders had been stockpiling copper in the U.S. to avoid anticipated tariffs, creating artificial scarcity that drove premiums to record 30% levels.
When Trump’s announcement hit, the unwinding was catastrophic.
Why This Move Was Virtually Untradeable
Look, I’m all for taking calculated risks, but this kind of volatility is virtually untradeable unless you’re a glutton for punishment. When you see a 20% move from high to low in a single session, you’re not dealing with normal market mechanics anymore.
This represents one of the biggest moves on record for copper — and it’s a perfect example of how geopolitical decisions can create instant, massive dislocations that overwhelm any technical analysis you might have been relying on.
The preceding setup made this crash even more dramatic. Traders who thought they were being smart by stockpiling got caught in a liquidity nightmare when everyone tried to exit at once.
The Bigger Trading Lesson Here
What we witnessed wasn’t just a copper crash — it was a masterclass in how external factors can dominate market behavior in ways that defy traditional trading logic.
When artificial scarcity meets sudden policy reversals, the result is exactly what we saw: Now a 24% decline from just days earlier that left even experienced traders on the sidelines.
The takeaway? Sometimes the best trade is no trade.
When markets move this violently, preservation of capital trumps any potential profit opportunity. There will always be another setup, but there won’t always be another account if you get caught on the wrong side of moves like these.
This is why I stay disciplined and avoid chasing extreme volatility — because wild moves like this remind us that markets can be absolutely ruthless.
I’ll see you in the markets.
Chris Pulver
Chris Pulver Trading
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*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk.
P.S. If It Feels Quiet, That’s Usually a Signal
Every major market move follows the same cycle, and if you don’t know what stage we’re in…
You’re playing a dangerous game. Take a look at this chart:
Most traders only wake up during the markup phase, when prices are flying and headlines are bullish.
That’s when the emotional buying starts…
And it’s also when Wall Street is already preparing to distribute their shares, leaving retail traders holding the bag.
But what if you could spot the accumulation phases, before the rest of the market catches on?
That’s exactly what I revealed in my latest briefing…
How to use these “pinch point” setups to anticipate the next breakout, not chase it.
The next breakout candidate is already consolidating quietly…
Naturally, I cannot promise future returns or against losses…
But it’s only a matter of time before the smart money catches on.
