Copper on the edge

BofA Merrill Lynch:

Copper is on the edge of resuming its long-term downtrend as it probes four-month trendline support at 6034 (it has yet to close below this trendline). 

Indeed, an impulsive break below confirms an end to the corrective rally and resumption of the long-term bear trend. Downside targets are seen to 5279, ahead of 4791 and, potentially, below.