Type: Bearish DropKey Levels:Resistance:3.6920Pivot:3.5545Support:3.3840Preferred Case:On the H4 chart, we have a bearish bias. To add confluence to this, price is under the Ichimoku cloud which indicates a bearish market. If this bearish momentum continues, expect price to possibly break the Pivot at 3.5545, where the 61.8% Fibonacci line is, before heading towards the support level at 3.3840, where the previous swing low is.Alternative Scenario:Price may go back up towards the resistance line at 3.6920, where the 38.2% Fibonacci line is.Fundamentals:There are no major news.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/copper-futures-hg1-h4-potential-for-bearish-drop28"
via IFTTT
Subscribe to:
Post Comments (Atom)
-
The new strain of covid found in South Africa could disrupt plans by governments and central banks to rebuild economies. Financial markets a...
-
Fidelity “FIS” is a global financial services technology company and a leader in providing technology solutions to merchants, banks and cap...
-
Asian Equities Sink on Covid FearsIt’s been a mixed start to the week for global equities benchmarks with US and European asset markets rema...
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.