Copper Futures ( HG1! ), H4 Potential for Bearish Drop
Title: Copper Futures ( HG1! ), H4 Potential for Bearish Drop
Type: Bearish Drop
Resistance: 4.2300
Pivot: 4.1165
Support: 3.9245
Preferred case: Looking at the H4 chart, my overall bias for HG1! is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market.
Expecting price to continue heading down towards the support at 3.9245, where the overlap support is.
Alternative scenario: Price could head up towards the resistance at 4.2300, where the overlap resistance is.
Fundamentals: There are no major news.
Type: Bearish Drop
Resistance: 4.2300
Pivot: 4.1165
Support: 3.9245
Preferred case: Looking at the H4 chart, my overall bias for HG1! is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market.
Expecting price to continue heading down towards the support at 3.9245, where the overlap support is.
Alternative scenario: Price could head up towards the resistance at 4.2300, where the overlap resistance is.
Fundamentals: There are no major news.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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