Copper Futures (HG1!) H1 | Potential Bullish Bounce
Copper Futures (HG1!) H1 | Potential Bullish Bounce
Type:
Bullish Bounce
Key Levels:
Resistance: 4.09
Pivot: 4.03
Support: 3.97
Preferred Case:
Looking at the H1 chart, my overall bias for Copper futures (HG1!) is bullish due to the price approaching a key overlap support that aligns close to a 50.0% Fibonacci retracement level. The price could bounce off the pivot and rise toward the 1st Resistance at 4.09.
Alternative Scenario:
Price may break below the pivot at 4.03 and fall towards the 1st Support at 3.97.