Copper Futures ( HG1! ), H4 Potential for Bullish Momentum
Type: Bullish Momentum
Resistance: 3.5460
Pivot: 3.4400
Support: 3.3850
Preferred Case: The price is crossing the ichimoku cloud, if the price can break the cloud successfully, we can expect the price rise to the 1st resistance at 3.5460, where the overlap resistance and 61.8% fibonacci retracement are.
Alternative scenario: If bearish momentum persists, expect price to continue falling towards the first support level at 3.3850, where the previous swing low is.
Fundamentals: There is no major news.
Resistance: 3.5460
Pivot: 3.4400
Support: 3.3850
Preferred Case: The price is crossing the ichimoku cloud, if the price can break the cloud successfully, we can expect the price rise to the 1st resistance at 3.5460, where the overlap resistance and 61.8% fibonacci retracement are.
Alternative scenario: If bearish momentum persists, expect price to continue falling towards the first support level at 3.3850, where the previous swing low is.
Fundamentals: There is no major news.