Wheat Mini Futures ( XW1! ), H4 Potential for Bullish Momentum
Title: Wheat Mini Futures ( XW1! ), H4 Potential for Bullish Momentum
Type: Bullish Momentum
Resistance: 949'3
Pivot: 904'1
Support: 877'3
Preferred case: With the price moving above ichimoku cloud, we have a buillish bias that the price may rise from the pivot at 904'1, which is in line with the overlap resistance to the 61.8% fibonacci retracement to the 1st resistance at 949'3, where the swing high is.
Alternative scenario: Price may retrace downwards and head towards the 877'3
support level, where the 38.2% Fibonacci lines located.
Fundamentals: There are no major news.
Type: Bullish Momentum
Resistance: 949'3
Pivot: 904'1
Support: 877'3
Preferred case: With the price moving above ichimoku cloud, we have a buillish bias that the price may rise from the pivot at 904'1, which is in line with the overlap resistance to the 61.8% fibonacci retracement to the 1st resistance at 949'3, where the swing high is.
Alternative scenario: Price may retrace downwards and head towards the 877'3
support level, where the 38.2% Fibonacci lines located.
Fundamentals: There are no major news.