Copper Futures (HG1!) H4 | Strong Bullish Momentum

Type:

Bullish Bounce

Key Levels:

Resistance: 4.79

Pivot: 4.64

Support: 4.57

Preferred Case:

Looking at the H4 chart, my overall bias for copper futures (HG1!) is bullish due to the price demonstrating a strong uptrend accompanied by the green Ichimoku Cloud. The price has reversed off the Pivot and could rise towards the 1st Resistance at 4.79.

Alternative Scenario:

Price may break below the Pivot at 4.64 and fall towards the 1st Support at 4.57.