Copper Futures (HG1!) H4 | Falling to an Overlap Support
Type:
Bullish Reversal
Key Levels:
Resistance: 4.663
Pivot: 4.504
Support: 4.377
Preferred Case:
Looking at the H4 chart, the price is falling towards an overlap support and could stabilize around this level before reversing to bounce higher toward the 1st resistance at 4.663.
Alternative Scenario:
Price may break below the Pivot at 4.504 and fall toward the 1st Support at 4.377.
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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.