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: 4034.50
Pivot: 3900.50
Support: 3804.00
Preferred case: Looking at the H4 chart, my overall bias for SPX is bullish due to the current price being above the Ichimoku cloud , indicating a bullish market. If this bullish momentum continues, expect price to continue heading towards the resistance at 4034.50, where the 61.8% Fibonacci line is.
Alternative scenario: Price could break the pivot at 3900.50, where the 50% Fibonacci line is before heading towards the support at 3804.00, where the previous low is.
Fundamentals: There are no major news.
Type: Bullish rise
Resistance: 4034.50
Pivot: 3900.50
Support: 3804.00
Preferred case: Looking at the H4 chart, my overall bias for SPX is bullish due to the current price being above the Ichimoku cloud , indicating a bullish market. If this bullish momentum continues, expect price to continue heading towards the resistance at 4034.50, where the 61.8% Fibonacci line is.
Alternative scenario: Price could break the pivot at 3900.50, where the 50% Fibonacci line is before heading towards the support at 3804.00, where the previous low is.
Fundamentals: There are no major news.