Title: Live Cattle Futures ( LE11 ), H4 Potential for Bullish Continuation
Type: Bullish Rise
Resistance: 159.175
Pivot: 157.875
Support: 155.375
Preferred case: Looking at the H4 chart, my overall bias for LE1! is bullish due to the current price being above the Ichimoku cloud , indicating a bullish market. Expecting price to continue heading towards the resistance at 159.175, where the previous swing high is.
Alternative scenario: Price could head back down to retest the pivot at 157.875, where the 38.2% Fibonacci line is.
Fundamentals: There are no major news.
Type: Bullish Rise
Resistance: 159.175
Pivot: 157.875
Support: 155.375
Preferred case: Looking at the H4 chart, my overall bias for LE1! is bullish due to the current price being above the Ichimoku cloud , indicating a bullish market. Expecting price to continue heading towards the resistance at 159.175, where the previous swing high is.
Alternative scenario: Price could head back down to retest the pivot at 157.875, where the 38.2% Fibonacci line is.
Fundamentals: There are no major news.