Tickmill

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

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

Preferred Case: On the H4, with price moving along the ascending trendline and above the ichimoku indicator, we have a bullish bias that price will rise from the pivot at 144.275 to the 1st resistance at 147.900 where the 127.2% fibonacci extension is.

Alternative scenario: Alternatively, price could break pivot structure and drop to the 1st support at 141.100 where the overlap support is.

Fundamentals: No Major News

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