Copper Futures (HG1!) D1| Drop from the 161.8% Fibo
Type:
Bearish Reversal
Key Levels:
Resistance: 5.3895
Pivot: 5.1345
Support: 4.8795
Preferred Case:
Looking at the D1 chart, the price could fall from the pivot and drop toward the 1st Support at 4.8795
Alternative Scenario:
Price may break above the Pivot at 5.1345 and fall toward the 1st Resistance at 5.3895
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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.