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Copper Futures ( HG1!), H1 Potential For Bearish Dip

37437 copper futures hg1 h1 potential for bearish dip

Type: Bullish BounceKey Levels:Resistance: 4.7660Pivot: 4.7370Support: 4.6840Preferred Case:We see the potential for a bearish continuation from our pivot at 4.7370 in line with 78.6% Fibonacci retracement our 1st support at 4.6840 in line with 50% Fibonacci retracement and 78.6% Fibonacci projection.Alternative Scenario:Alternatively, price may break our pivot structure and head for 1st resistance at 4.7660 in line with 61.8% Fibonacci projection and 138.2% Fibonacci extension.Fundamentals:No major news.

Source: Tickmill

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