Copper Futures (HG1!) H4 | Potential Bearish Reversal
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.