HG Short — $HG copper fading from the 6.385 rejection — bearish Copper FuturesCOMEX:HG1!mnktrdOn the 4-hour chart, copper posted a clean all-time high near 6.67 in early June, then reversed sharply — making a sequence of lower highs and lower lows since that peak. The most recent 4h bounce stalled around 6.38–6.40, well below the prior swing high near 6.55, confirming a bearish structure of lower highs. Price is now consolidating near 6.33, sitting inside a band that acted as minor support in mid-May and early June (roughly 6.28–6.35). The HTF bias is clearly down from the record high. On the 1-hour chart, the Jun 17 flush from 6.50 to 6.28 was the structural break. The subsequent bounce from the 6.27 low on Jun 18 was limited and rejected sharply, with the Jun 19 morning bars showing a failed attempt to reclaim 6.38 (high 6.385 on the 06:00 bar) before fading back to 6.33. The LTF structure is making lower highs: 6.385 → 6.374 → 6.348 → 6.341, with the current 10:00 bar closing at 6.333. This is a textbook pullback into the broken 6.35–6.38 zone, now acting as resistance, with the bounce exhausting into that overhead supply. The micro-rejection off 6.385 and the rolling lower highs confirm the trigger. Stop is placed above the morning high of 6.385, adding roughly 0.5× ATR clearance, at 6.385. Target is the Jun 18–19 swing low region near 6.27, with the target set slightly in front at 6.21 — a zone that was tested as major support in mid-June prior to the bounce. The hawkish Warsh Fed pivot, stronger USD, and the reversal from the all-time high at 6.67 all reinforce the near-term downside thesis. Structural long-term supply deficits are a multi-year factor and do not alter the current short-term bearish positioning off the record high. The market regime is short-leaning with broad commodity weakness, adding modest directional alignment. Invalidation is a decisive close back above 6.39 on the 1-hour chart. 📍 Entry: 6.3335 🛑 Stop: 6.3850 🎯 Target: 6.2100 ⚖️ R:R: 2.40