Live Cattle Futures ( LE1! ), H4 Potential for Bullish Rise
Type : Bullish rise
Resistance : 151.925
Pivot: 146.650
Support : 143.300
Preferred Case: On the H4, with price moving in an ascending trend and trading above the ichimoku indicator, we have a bullish bias that price may rise from the pivot at 146.650 where the previous swing high sits to the 1st resistance at 151.925 where the 161.8% projection sits
Alternative scenario: Alternatively, price could break pivot structure and drop to the 1st support at 143.300 where the swing low, overlap support and 38.2% retracement sits
Fundamentals: No Major News
Resistance : 151.925
Pivot: 146.650
Support : 143.300
Preferred Case: On the H4, with price moving in an ascending trend and trading above the ichimoku indicator, we have a bullish bias that price may rise from the pivot at 146.650 where the previous swing high sits to the 1st resistance at 151.925 where the 161.8% projection sits
Alternative scenario: Alternatively, price could break pivot structure and drop to the 1st support at 143.300 where the swing low, overlap support and 38.2% retracement sits
Fundamentals: No Major News