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

CME:LE1!   Live Cattle Futures
Type : Bullish rise
Resistance : 147.900
Pivot: 143.150
Support : 141.100

Preferred Case: On the H4, with price moving in an ascending trend and trading above the ichimoku indicator, we have a bullish bias that price may rise from the pivot at 143.150 where the previous swing low and 23.6% retracement sits to the 1st resistance at 147.900 where the 127.2% extension sits

Alternative scenario: Alternatively, price could break pivot structure and drop to the 1st support at 141.100 where the swing low and 38.2% retracement sits

Fundamentals: No Major News

This analysis is provided as general market commentary and does not constitute investment advice.

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.