Copper Futures (HG1!) H4 | Potential Bearish Reversal

Type:

Bearish Reversal

Key Levels:

Resistance: 4.32

Pivot: 4.23

Support: 4.12

Preferred Case:

Looking at the H4 chart, my overall bias for copper futures (HG1!) is bearish due to the price approaching a multi-swing-high resistance. The price could stall around the pivot before reversing off this level to fall toward the 1st Support at 4.12.

Alternative Scenario:

Price may break above the pivot at 4.23 and rise toward the 1st Resistance at 4.32.