S&P 500 E-mini Futures ( ES1! ), H4 Potential for Bullish Rise
Title: S&P 500 E-mini Futures ( ES1! ), H4 Potential for Bullish Rise
Type: Bullish Rise
Resistance: 4173.25
Pivot: 3913.25
Support: 3751.75
Preferred case: Looking at the H4 chart, my overall bias for SPX is bullish due to the current price approaching to cross above the Ichimoku cloud , indicating a possible shift to bullish market structure. If this bullish momentum continues, expect price to possibly head up towards the resistance at 4173.25, where the 78.6% Fibonacci line is.
Alternative scenario: Price could head back down to retest the pivot at 3913.25, where the 50% Fibonacci line is.
Fundamentals: There are no major news.
Type: Bullish Rise
Resistance: 4173.25
Pivot: 3913.25
Support: 3751.75
Preferred case: Looking at the H4 chart, my overall bias for SPX is bullish due to the current price approaching to cross above the Ichimoku cloud , indicating a possible shift to bullish market structure. If this bullish momentum continues, expect price to possibly head up towards the resistance at 4173.25, where the 78.6% Fibonacci line is.
Alternative scenario: Price could head back down to retest the pivot at 3913.25, where the 50% Fibonacci line is.
Fundamentals: There are no major news.