Live Cattle Futures ( LE1! ), H4 Potential for Bullish Trend
Type : Bullish rise
Resistance : 147.900
Pivot: 143.150
Support : 141.100
Preferred Case: On the H4, with price moving in an ascending trend and trading above the ichimoku indicator, we have a bullish bias that price may rise from the pivot at 143.150 where the previous swing low and 23.6% retracement sits to the 1st resistance at 147.900 where the 127.2% extension sits
Alternative scenario: Alternatively, price could break pivot structure and drop to the 1st support at 141.100 where the swing low and 38.2% retracement sits
Fundamentals: No Major News
Resistance : 147.900
Pivot: 143.150
Support : 141.100
Preferred Case: On the H4, with price moving in an ascending trend and trading above the ichimoku indicator, we have a bullish bias that price may rise from the pivot at 143.150 where the previous swing low and 23.6% retracement sits to the 1st resistance at 147.900 where the 127.2% extension sits
Alternative scenario: Alternatively, price could break pivot structure and drop to the 1st support at 141.100 where the swing low and 38.2% retracement sits
Fundamentals: No Major News