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
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.