S&P 500 Futures ( ES1! ), H4 Potential for Bearish Continuation
Title: S&P 500 E-mini Futures ( ES1! ), H4 Potential for Bullish Continuation
Type: Bullish Continuation
Resistance: 4180.00
Pivot: 3966.50
Support: 3788.50
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. To add confluence to this bias, price is also moving within an ascending channel. If this bullish momentum continues, expect price to continue heading towards the resistance at 4180.00, where the previous swing high is.
Alternative scenario: Price could head back down to retest the pivot at 3966.50, slightly above where the 38.2% Fibonacci line is
Fundamentals: There are no major news.
Type: Bullish Continuation
Resistance: 4180.00
Pivot: 3966.50
Support: 3788.50
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. To add confluence to this bias, price is also moving within an ascending channel. If this bullish momentum continues, expect price to continue heading towards the resistance at 4180.00, where the previous swing high is.
Alternative scenario: Price could head back down to retest the pivot at 3966.50, slightly above where the 38.2% Fibonacci line is
Fundamentals: There are no major news.