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HGK2022

HGK2022 (Copper Futures) | H1 Bullish PressureType : Bullish Pressure Resistance : 4.8270 Pivot: 4.7060 Support : 4.6830 Preferred Case: Price is near pivot level of 4.7060 in line with 61.8% Fibonacci retracement. Price can potentially rise up to the 1st resistance level at 4.8120, in line with 138.2% Fibonacci extension and 61.8% Fibonacci projection. Our bullish bias is further supported by the stochastic indicator where it is at support level. Alternative scenario: Price might also dip towards the 1st support level of 4.6830 in line 78.6% Fibonacci retracement and 78.6% Fibonacci projection.
COMEX:HGK2022Long
by Genesiv
Copper Futures (HGK2022), H1 Bullish BounceType : Bullish Bounce Resistance : 4.8060 Pivot: 4.7385 Support : 4.7020 Preferred 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
COMEX:HGK2022Long
by Genesiv
HGK2022 (Copper Futures) | H1 Bullish PressureType : 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
COMEX:HGK2022Long
by Genesiv