$COPX exactly hit the yellow line and rejected as the news broke about the restrictions on Russia from the US and the UK.
Buy the rumour, sell the news event happened but I do not believe this is it for $COPX, I believe there will be another retest of this level soon and there is no reason why it can not break out of this level and convert $45.30 to support.
Greatly reducing supply will affect the price until the market can catch up and increase supply again.