HGK2022 (Copper Futures) | H1 Bullish Pressure

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Type : Bullish Pressure
Resistance : 4.7730
Pivot: 4.7000
Support : 4.6415

Preferred Case: Price is near pivot level of 4.7000 in line with 50% Fibonacci retracement . Price can potentially rise up to the 1st resistance level at 4.7730, in line with 78.6% Fibonacci retracement and 78.6% Fibonacci projection . Our bullish bias is further supported by the stochastic indicator where it is at resistance level .

Alternative scenario: Price might also dip towards the 1st support level of 4.6415 in line with a graphical swing low support.

Fundamentals: No Major News

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