Copper Futures (HG1!), H4 Potential for Bullish Rise
Title: Copper Futures (HG1!), H4 Potential for Bullish Rise
Type: Bullish Rise
Resistance: 4.5770
Pivot: 4.2155
Support: 4.1090
Preferred case: Looking at the H4 chart, my overall bias for HG1! is bullish due to the current price being above the Ichimoku cloud , indicating a bullish market. If this bullish momentum continues, expect price to possibly head towards the resistance at 4.5770, where the previous swing high is.
Alternative scenario: Price may head back down towards the support at 4.1090 where the overlap support is.
Fundamentals: There are no major news.
Type: Bullish Rise
Resistance: 4.5770
Pivot: 4.2155
Support: 4.1090
Preferred case: Looking at the H4 chart, my overall bias for HG1! is bullish due to the current price being above the Ichimoku cloud , indicating a bullish market. If this bullish momentum continues, expect price to possibly head towards the resistance at 4.5770, where the previous swing high is.
Alternative scenario: Price may head back down towards the support at 4.1090 where the overlap support is.
Fundamentals: There are no major news.