Micro E-mini S&P 500 Index Futures,H4 Potential for Bullish Rise
Type : Bullish Rise
Resistance : 4201.75
Pivot: 4072.00
Support : 3948.25
Preferred Case: On the H4, with price moving within an ascending channel and above the ichimoku indicator, we have a bullish bias that price will rise from our pivot at 4072.00 where the pullback support and 23.6% fibonacci retracement are to the 1st resistance at 4201.75 where the swing high resistance and 100% fibonacci projection are.
Alternative scenario: Alternatively, price could break pivot structure and drop to 1st support at 3948.25 where the pullback support, 50% fibonacci retracement and 100% fibonacci projection are.
Fundamentals: Due to the House Speaker Nancy Pelosi's trip to Taiwan capital, Taipei, the S&P 500 is exposed to downside risk and we have a bearish view on the S&P 500 Index . We'll need to exercise caution for this setup because our fundamentals and technicals are not completely aligned.
Resistance : 4201.75
Pivot: 4072.00
Support : 3948.25
Preferred Case: On the H4, with price moving within an ascending channel and above the ichimoku indicator, we have a bullish bias that price will rise from our pivot at 4072.00 where the pullback support and 23.6% fibonacci retracement are to the 1st resistance at 4201.75 where the swing high resistance and 100% fibonacci projection are.
Alternative scenario: Alternatively, price could break pivot structure and drop to 1st support at 3948.25 where the pullback support, 50% fibonacci retracement and 100% fibonacci projection are.
Fundamentals: Due to the House Speaker Nancy Pelosi's trip to Taiwan capital, Taipei, the S&P 500 is exposed to downside risk and we have a bearish view on the S&P 500 Index . We'll need to exercise caution for this setup because our fundamentals and technicals are not completely aligned.
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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