S&P 500 E-mini Futures ( ES1! ), H4 Potential for Bullish Rise
Title: S&P 500 E-mini Futures ( ES1! ), H4 Potential for Bullish Momentum
Type: Bullish Momentum
Resistance: 4203.00
Pivot: 4008.75
Support: 3818.00
Preferred case: The current bias for ES1! on the H4 chart is bullish . To add to this bias, the price is currently trading above the Ichimoku cloud and breaking the descending trendline, indicating a bullish market. If the bullish momentum continues, price may head towards the resistance at 4203.00, where the previous high is located.
Alternative scenario: Price may retrace downwards and head towards the 3818.00 support level , where the 38.2% Fibonacci line is located.
Fundamentals: There are no major news.
Type: Bullish Momentum
Resistance: 4203.00
Pivot: 4008.75
Support: 3818.00
Preferred case: The current bias for ES1! on the H4 chart is bullish . To add to this bias, the price is currently trading above the Ichimoku cloud and breaking the descending trendline, indicating a bullish market. If the bullish momentum continues, price may head towards the resistance at 4203.00, where the previous high is located.
Alternative scenario: Price may retrace downwards and head towards the 3818.00 support level , where the 38.2% Fibonacci line is located.
Fundamentals: There are no major news.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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