Copper Futures (HG1!) H4 | Potential Bullish Reversal of 50% Fibonacci Support
Copper Futures (HG1!) H4 | Potential Bullish Reversal of 50% Fibonacci Support
Type:
Bullish Reversal
Key Levels:
Resistance: 4.310
Pivot: 4.176
Support: 4.122
Preferred Case:
Looking at the H4 chart, the price is trading close to an overlap support where it could potentially reverse to climb higher towards the 1st Resistance at 4.310.
Alternative Scenario:
Price may break below the Pivot at 4.176 and fall towards the 1st Support at 4.122.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.