Type: Bearish MomentumKey Levels:Resistance: 4083.25Pivot: 3945.00Support: 3905.25Preferred Case:On the H4, with price recently breaking the descending trend channel, we have a bullish bias that price will rise from the pivot at 3945.00 at the pullback swing high in line with the 78.6% fibonacci projection and 50% fibonacci retracement to the 1st resistance at 4083.25 at the pullback swing low in line with the 78.6% fibonacci retracement.Alternative Scenario:Alternatively, price may break the support structure at the pivot and drop to the 1st support at 3905.25 at the overlap support.Fundamentals:US indexes moved moderately higher with better-than-expected US economic reports. Hence, we have a bullish view on the micro e-mini S&P500 index.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/micro-e-mini-s-and-p500-index-futures-mes1-h4-potential-for-bearish-drop"
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.