Copper Futures (HG1!) | H4 Potential Bearish Reversal
Copper Futures (HG1!) | H4 Potential Bearish Reversal
Type:
Bearish Reversal
Key Levels:
Resistance: 4.290
Pivot: 4.203
Support: 4.036
Preferred Case:
Looking at the H4 chart, my overall bias for Copper futures (HG1!) is bearish due to the price trading in a prolonged downtrend while the presence of the red Ichimoku Cloud adds further bearish significance to the overall momentum. The price could make a reversal off the pivot and fall toward the 1st Support at 4.036.
Alternative Scenario:
Price may break above the pivot at 4.203 and rise towards the 1st Resistance level at 4.290.