Type: Bullish BounceKey Levels:Resistance: 4.8060Pivot: 4.7385Support: 4.7020Preferred Case:Price is near pivot level of 4.7385 in line with 50% Fibonacci retracement and 61.8% Fibonacci projection. Price can potentially bounce up to the 1st resistance level of 4.8060, in line with 100% Fibonacci projection and 127.2% Fibonacci extension, along with a graphical swing high resistance. Our bullish bias is further supported by price trading below the Ichimoku cloud indicator.Alternative Scenario:Price might continue to drop towards the 1st support level of 4.7020 in line with 61.8% Fibonacci projection.Fundamentals:No Major News
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/copper-futures-hgk2022-h1-bullish-bounce"
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