Copper Futures (HG1!) H1 | Falling to Pullback Support
Type:
Bullish Bounce
Key Levels:
Resistance: 4.296
Pivot: 4.246
Support: 4.217
Preferred Case:
Looking at the H1 chart, the price is trading close to a pullback support where it could make a bullish bounce. The bullish momentum could cause the price to rise towards the 1st Resistance at 4.296.
Alternative Scenario:
Price may break above the Pivot at 4.246 and fall towards the 1st Support at 4.217.
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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.