On the daily chart, we can see that Copper eventually broke through the key 4.35 level and extended the rally into a new cycle high at 4.57. From a risk management perspective, the buyers will have a much better risk to reward setup around the previous resistance turned support at the 4.35 level where they will also find the confluence of the red 21 moving average and the 38.2% Fibonacci retracement level. Alternatively, if the price were to break lower, they will find another good support around the trendline where there’s also the 61.8% Fibonacci retracement level for confluence.