COPPER1!, H4 Potential For Bullish Continuation

40615 copper1 h4 potential for bullish continuation

Type: Bullish RiseKey Levels:Resistance: 821.05Pivot: 790.95Support: 772.10Preferred Case:On the H4, with price moving above the ichimoku cloud and within the ascending trend channel, we have a bullish bias that price will rise from our pivot at 790.95 in line with the 23.6% fibonacci retracement and 61.8% fibonacci projection to the 1st resistance at 821.05 in line with the 78.6% fibonacci retracement and swing high.Alternative Scenario:Price may also break support structure at the pivot and drop to the 1st support at 772.10 at the swing low.Fundamentals:No major news

Source: Tickmill

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