S&P 500 Futures (ES1!) H4 | Approaching Multi-swing-high Resistance
S&P 500 Futures (ES1!) H4 | Approaching Multi-swing-high Resistance
Type:
Bearish Reversal
Key Levels:
Resistance: 6,206.50
Pivot: 6,152.50
Support: 6,091.50
Preferred Case:
Looking at the H4 chart, the price is rising towards a multi-swing-high resistance where it could stall before reversing to fall lower toward the 1st Support at 6,091.50.
Alternative Scenario:
Price may break above the Pivot at 6,152.50 and rise towards the 1st Resistance at 6,206.50.
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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.