Copper Futures (HG! ), H4 Potential for Bearish Momentum
Type: Bearish Momentum
Resistance: 3.5875
Pivot: 3.3815
Support: 3.2415
Preferred Case: The H4 price is in a downward trend and crossing below ichimoku cloud. The price may drop form the pivot at 3.3815, where the 61.8% fibonacci retracement is to the 1st support at 3.2415 where the swing low and 78.6% fibonacci projection sits
Alternative scenario: If there is a price reversal, price will move to 3.5875, where the swing highs and 78.6% fibonacci retracement are.
Fundamentals: There are no major news.
Resistance: 3.5875
Pivot: 3.3815
Support: 3.2415
Preferred Case: The H4 price is in a downward trend and crossing below ichimoku cloud. The price may drop form the pivot at 3.3815, where the 61.8% fibonacci retracement is to the 1st support at 3.2415 where the swing low and 78.6% fibonacci projection sits
Alternative scenario: If there is a price reversal, price will move to 3.5875, where the swing highs and 78.6% fibonacci retracement are.
Fundamentals: There are no major news.