Copper Futures - Watching the $4.50 Level

Been closely watching HGc1 lately. The price action around the $4.50/lb mark has been quite telling. We saw a solid bounce off that level a couple of weeks ago, which suggests it's holding as some short-term support. However, subsequent attempts to push higher have met with sellers, implying overhead resistance is still firmly in play, perhaps around $4.65.

My current read is that a sustained break below $4.50 would likely invalidate the recent bullish lean and could open the door for a retest of the $4.40 region, or even lower. Conversely, a clear close above $4.65 on decent volume could signal renewed upward momentum. Just my two cents, always could be wrong.