Copper Futures (HG1!) D1 Support Bounce-Off
Type:
Bullish Reversal
Key Levels:
Resistance: 5.0695
Pivot: 4.8755
Support: 4.6670
Preferred Case:
Looking at the D1 chart, the price could fall towards a pullback support and potentially bounce toward the 1st Resistance at 5.0695
Alternative Scenario:
Price may break above the Pivot at 4.8755 and fall toward the 1st Support at 4.6670
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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.