DJ EURO STOXX 50 Futures (FESX1!), H4 Potential for Bullish Rise
Type : Bullish Rise
Resistance : 3851
Pivot: 3744
Support : 3659
Preferred Case: On the H4, with price moving along an ascending trendline and above the ichimoku indicator, we have a bullish bias that price will rise to our pivot at 3744 where the pullback resistance, 78.6% fibonacci retracement and 161.8% fibonacci extension are. Once there is upside confirmation of price breaking pivot structure, we would expect bullish momentum to carry price to 1st resistance at 3851 where the swing high resistance is.
Alternative scenario: Alternatively, price could drop to 1st support at 3659 where the swing low support and 61.8% fibonacci projection are.
Fundamentals: No Major News
Resistance : 3851
Pivot: 3744
Support : 3659
Preferred Case: On the H4, with price moving along an ascending trendline and above the ichimoku indicator, we have a bullish bias that price will rise to our pivot at 3744 where the pullback resistance, 78.6% fibonacci retracement and 161.8% fibonacci extension are. Once there is upside confirmation of price breaking pivot structure, we would expect bullish momentum to carry price to 1st resistance at 3851 where the swing high resistance is.
Alternative scenario: Alternatively, price could drop to 1st support at 3659 where the swing low support and 61.8% fibonacci projection are.
Fundamentals: No Major News