Chart of the day

Copper is locked in the triangle and tests the upside resistance of 3.950. A break above this level is required for an upside reversal and a test of 4.585. A rejection from here will leave us in the consolidation triangle

Only in the case of a clear confirmed break below 3.540, we can see an invalidation of the fifth wave higher. A break above the 3.3950 level will mark the start of the fifth long-term wave higher.

_{Long trades could be opened here with a stop loss below 3.700 or upon a confirmed break above 3.950. Short trades could be open upon a break below 3.670.}