Type:
Bearish Drop

Key Levels:
Resistance: 3.6500
Pivot: 3.5315
Support: 3.4115

Preferred Case:
On the H4, with the price breaking the ascending trendline and ichimoku cloud , we have a bearish bias that the price may drop from the pivot at 3.5315, which is in line with the 78.6% fibonacci projection and 61.8% fibonacci retracement to the 1st support at 3.4115, where the 50% fibonacci retracement and swing low are.

Alternative Scenario:
Alternatively, the price could rise to the 1st resistance at 3.6500, where the pullback resistance is.

Fundamentals:
The copper price fell as the market worries about demand in China surfaced due to weak economic data and a firmer dollar. Meanwhile, Chinese property developers sharply cut investment in July, while new construction starts suffered their biggest fall in nearly a decade.