Genesiv

Copper Futures ( HG1!), H1 Potential for Bearish Dip

Short
COMEX:HG1!   Copper Futures
Type : Bearish Dip
Resistance : 4.7890
Pivot: 4.7740
Support : 4.7375
Preferred case: We see the potential for a bearish dip from our pivot at 4.7740 in line with 138.2% Fibonacci extension towards our 1st support at 4.7375 in line with 38.2% Fibonacci retracement and 61.8% Fibonacci projection.

Alternative scenario: Alternatively, price may break our pivot structure and head for 1st resistance at 4.7890 in line with 161.8% Fibonacci extension.

Fundamentals: No major news.

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