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COPPER1!, H4 Potential for Bullish Momentum

40825 copper1 h4 potential for bullish momentum

Type: Bullish RiseKey Levels:Resistance: 813.35Pivot: 783.5 Support: 770.55Preferred Case:On the H4, with price moving above the ichimoku cloud, we have a bullish bias that price will rise from the pivot at 783.5 in line with the 61.8% fibonacci projection and pullback support and multiple swing high to the 1st resistance at 813.35 in line with the 100% fibonacci projection and overlap resistance.Alternative Scenario:Alternatively, price may break the support structure at the pivot and drop to the 1st support at 770.55 at the swing low.Fundamentals:No major news

Source: Tickmill

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