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Live Cattle Futures ( LE1! ), H4 Potential for Bullish Trend

Long
CME:LE1!   Live Cattle Futures
Title: Live Cattle Futures ( LE1! ), H4 Potential for Bullish Trend
Type : Bullish rise
Resistance : 147.900
Pivot: 144.275
Support : 141.100

Preferred Case: The price is moving in a bullish trend on the H4. Price fell below the Pivot at 144.275, but quickly recovered and closed above it. If the bullish momentum continues, we can expect price to move towards the first resistance level at 147.875 (the 127.2% Fibonacci extension line).

Alternative scenario: Price could break the pivot structure and return to the first support level at 141.100, where the 38.2% Fibonacci retracement line is.

Fundamentals: No Major News
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