Copper Futures (HG1! ), H1 Potential for Bearish Dip
Type : Bearish Dip
Resistance: 4.5250
Pivot: 4.4920
Support : 4.4205
Preferred case: We see the potential for a bearish dip from our pivot level of 4.4920 which is in line with 78.6% Fibonacci retracement extension towards our 1st support level of 4.4205 which is in line with 78.6% Fibonacci retracement.
Alternative scenario: Alternatively, price might break our pivot structure and head for 1st resistance level of 4.5250 in line with 38.2% Fibonacci retracement and 127.2% Fibonacci extension.
Fundamentals: No major news.
Resistance: 4.5250
Pivot: 4.4920
Support : 4.4205
Preferred case: We see the potential for a bearish dip from our pivot level of 4.4920 which is in line with 78.6% Fibonacci retracement extension towards our 1st support level of 4.4205 which is in line with 78.6% Fibonacci retracement.
Alternative scenario: Alternatively, price might break our pivot structure and head for 1st resistance level of 4.5250 in line with 38.2% Fibonacci retracement and 127.2% Fibonacci extension.
Fundamentals: No major news.