Copper Futures (HG1!) H4 | Potential Bullish Bounce

Type:

Bullish Reversal

Key Levels:

Resistance: 4.66

Pivot: 4.45

Support: 4.30

Preferred Case:

Looking at the H4 chart, my overall bias for copper futures (HG1!) is bullish due to the price trading close to a support level where it has bounced off strongly previosly. The price could hit the Pivot once more before reversing to rise towards the 1st Resistance at 4.66.

Alternative Scenario:

Price may break below the Pivot at 4.45 and fall towards the 1st Support at 4.30.