Type: Bullish RiseKey Levels:Resistance: 141.125Pivot: 138.275Support: 135.500Preferred Case:On the H4, with prices moving along an ascending trendline and above the ichimoku indicator, we have a bullish bias that price will rise to the pivot at 138.275 where the swing high resistance, 61.8% fibonacci retracement and 78.6% fibonacci projection are. Once there is upside confirmation that price has broken the pivot , we would expect bullish momentum to carry prices to 1st resistance at 141.125 where the pullback resistance, 78.6% fibonacci retracement and -27.2% fibonacci expansion.Alternative Scenario:Alternatively, price could drop to the 1st support at 135.500 where the overlap support is.Fundamentals:Due to the strong cattle prices and fears about demand settling down, we have a bullish view on live cattle.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/live-cattle-futures-le1-h4-potential-for-bullish-rise"
via IFTTT
Subscribe to:
Post Comments (Atom)
-
The new strain of covid found in South Africa could disrupt plans by governments and central banks to rebuild economies. Financial markets a...
-
Fidelity “FIS” is a global financial services technology company and a leader in providing technology solutions to merchants, banks and cap...
-
Asian Equities Sink on Covid FearsIt’s been a mixed start to the week for global equities benchmarks with US and European asset markets rema...
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.