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.