E-mini Dow Jones Futures (YM1!), H4 Potential for Bullish Rise
Type : Bullish Rise
Resistance : 33432
Pivot: 31862
Support : 30966
Preferred Case: On the H4, with price moving along the ascending trendline and breaking above the ichimoku indicator, we have a bullish bias that price will rise from the pivot at 31862 where the pullback support is to the 1st resistance at 33432 where the overlap resistance, 78.6% fibonacci retracement and 61.8% fibonacci retracement are.
Alternative scenario: Alternatively, price could break pivot structure and drop to the 1st support at 30966 where the swing low support and 78.6% fibonacci retracement are.
Fundamentals: Due to the easing treasury yeilds and oil prices, we have a bullish bias on the Dow Jones Index.
Resistance : 33432
Pivot: 31862
Support : 30966
Preferred Case: On the H4, with price moving along the ascending trendline and breaking above the ichimoku indicator, we have a bullish bias that price will rise from the pivot at 31862 where the pullback support is to the 1st resistance at 33432 where the overlap resistance, 78.6% fibonacci retracement and 61.8% fibonacci retracement are.
Alternative scenario: Alternatively, price could break pivot structure and drop to the 1st support at 30966 where the swing low support and 78.6% fibonacci retracement are.
Fundamentals: Due to the easing treasury yeilds and oil prices, we have a bullish bias on the Dow Jones Index.