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

Type: Bearish DipKey Levels:Resistance: 4.7890Pivot: 4.7740Support: 4.7375Preferred Case:We see the potential for a bearish dip from our pivot at 4.7740 in line with 138.2% Fibonacci extension towards our 1st support at 4.7375 in line with 38.2% Fibonacci retracement and 61.8% Fibonacci projection.Alternative Scenario:Alternatively, price may break our pivot structure and head for 1st resistance at 4.7890 in line with 161.8% Fibonacci extension.Fundamentals:No major news.

Source: Tickmill