Type: Bearish DropKey Levels:Resistance: 30680Pivot: 30045 Support: 39625Preferred Case:On the H4, the overall trend is still descending and respecting the ichimoku indicator hence we are bearish bias. The price may drop form the pivot at 30045, which is in line with the 141.4% fibonacci extension and 78.6% fibonacci projection to the 1st support at 09625. which is in line with the swing low.Alternative Scenario:Alternatively, the price could rise to the 1st resistance at 30680, which is in line with the 23.6% fibonacci retracement.Fundamentals:No major news.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/e-mini-dow-jones-futures-ym1-h4-potential-for-bearish-drop-23"
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