Live Cattle Futures ( LE1! ), H4 Potential for Bearish Trend
Title: Live Cattle Futures ( LE1! ), H4 Potential for Bearish Trend
Type : Bullish rise
Resistance : 147.900
Pivot: 144.275
Support : 141.100
Preferred Case: On the H4, with price moving in the descending trend and breaking the ichimoku indicator, we have a bearish bias that price may drop from the pivot at 144.275 where the previous swing high sits to the 1st support at 141.100 where the 38.2% retracement sits
Alternative scenario: Alternatively, price could break pivot structure and rise to the 1st resistance at 147.900 where the swing high and 127.2% extension sits
Fundamentals: No Major News
Type : Bullish rise
Resistance : 147.900
Pivot: 144.275
Support : 141.100
Preferred Case: On the H4, with price moving in the descending trend and breaking the ichimoku indicator, we have a bearish bias that price may drop from the pivot at 144.275 where the previous swing high sits to the 1st support at 141.100 where the 38.2% retracement sits
Alternative scenario: Alternatively, price could break pivot structure and rise to the 1st resistance at 147.900 where the swing high and 127.2% extension sits
Fundamentals: No Major News
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results