Live Cattle Futures ( LE1! ), H4 Potential for Bullish Rise
Title: Live Cattle Futures ( LE1! ), H4 Potential for Bullish Rise
Type : Bullish rise
Resistance : 146.750
Pivot: 142.650
Support : 139.175
Preferred Case: On the H4, with price moving along the ascending trendline and above the ichimoku indicator, we have a bullish bias that price will rise from the pivot at 142.650 where the 23.6% retracement sits to the 1st resistance at 146.750 where the previous swing high sits.
Alternative scenario: Alternatively, price could break pivot structure and drop to the 1st support at 139.175 where the overlap support is.
Fundamentals: No Major News
Type : Bullish rise
Resistance : 146.750
Pivot: 142.650
Support : 139.175
Preferred Case: On the H4, with price moving along the ascending trendline and above the ichimoku indicator, we have a bullish bias that price will rise from the pivot at 142.650 where the 23.6% retracement sits to the 1st resistance at 146.750 where the previous swing high sits.
Alternative scenario: Alternatively, price could break pivot structure and drop to the 1st support at 139.175 where the overlap support is.
Fundamentals: No Major News