Copper Futures (HG1!) H4 | Strong Bullish Momentum
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.