Copper (CU) ETFs in the US traded up ~2% overnight, as the industrial metal traded to multi-month highs supported by looming tariffs. SFR is likely to test new highs in the coming weeks as Cu pushes higher, but much of the good news at this stage is baked into the cake, and we will evaluate our position in the $11.50-$12 area.
- We can see SFR posting new highs in the coming weeks, but a break above $12 feels unlikely: MM is long SFR in the Active Growth Portfolio.
MM is long and bullish SFR short-term
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