S&P 500 E-mini Futures (CMEMINI:ES1!), H4 Potential For Bullish Momentum
Type:
Bullish Rise
Key Levels:
Resistance: 4293.75
Pivot: 4086.25
Support: 3962.5
Preferred Case:
On the H4, with price moving above the ichimoku cloud , we have a bullish bias that price will rise from our pivot at 4086.25 in line with the overlap support to the overlap resistance at 4293.75 in line with the 61.8% fibonacci projection.
Alternative Scenario:
Alternatively, price may reverse off the pivot and head for the support at 3962.5 in line with the 78.6% fibonacci projection .
Fundamentals:
No major news
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.