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Copper Futures ( HGK2022 ), H1 Potential for Bearish Dip

37011 copper futures hgk2022 h1 potential for bearish dip

Type: Bearish DipKey Levels:Resistance: 4.7880Pivot: 4.7650Support: 4.7270Preferred Case:We see the potential for a dip from our pivot at 4.7650 in line with 50% Fibonacci retracement towards our 1st support at 4.7270 in line with 38.28% Fibonacci retracement. Our bearish bias is supported by the stochastic indicator where price is at resistance level.Alternative Scenario:Alternatively, price may break our pivot structure and head for 1st resistance at 4.7880 in line with 61.8% Fibonacci retracement and 61.8% Fibonacci projection.Fundamental:No major news

Source: Tickmill

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