Chart of the day

Copper is reaching a strong resistance of 4.7400 A break above this resistance is required for a continuation higher. A rejection here will lead us to a downside swing to a long-term triangle downside support of 4.

We need to see a break below 4.6000 for the downside swing to happen. I see still this as an upside five waves and it can continue after another swing down as a triangle has some more space to be filled. An extension higher above will lead to a five-wave peak.

_{Look for the short trade entries with a stop loss above 4.8500. Long trades you can take in the case of a confirmed price action break above 4.8600 and a stop loss is taken.}