An alternative on this frame of the Copper’s daily chart :
After completing the bearish leading diagonal wave a(circled), and then its correction in a simple zigzag as the corrective wave b(circled), Copper fell down in an impulsive five-waves sequence which is still in progress. Under a bearish alternate view, the ongoing decline may be only as an initial subsequent of sequence c(circled).
An explanation on the ongoing subwaves :
On the assumed first wave of sequence of wave c(circled), its fourth wave could be completed, and its fifth wave has probably begun its way down. A common Fibonacci target for extreme of the ongoing decline, could be around the 240.90 level where establishes an equality ratio between the first and fifth waves of the wave (i).