E-mini Dow Jones Futures (YM1!), H4 Potential for Bullish Rise
Type : Bullish Rise
Resistance : 35392
Pivot: 33445
Support : 32687
Preferred Case: On the H4, with price moving above the ichimoku indicator and along an ascending trendline, we have a bullish bias that price will rise from the pivot at 33445 where the pullback support is to the 1st resistance at 35392 in line with swing high resistance and 161.8% fibonacci extension.
Alternative scenario: Alternatively, price could break pivot structure and drop to 1st support at 32687 where the pullback support, 23.6% fibonacci retracement and 61.8% fibonacci projection are.
Fundamentals: Since investors have seen evidence that inflation has peaked, we have a bullish view on the dow jones index.
Resistance : 35392
Pivot: 33445
Support : 32687
Preferred Case: On the H4, with price moving above the ichimoku indicator and along an ascending trendline, we have a bullish bias that price will rise from the pivot at 33445 where the pullback support is to the 1st resistance at 35392 in line with swing high resistance and 161.8% fibonacci extension.
Alternative scenario: Alternatively, price could break pivot structure and drop to 1st support at 32687 where the pullback support, 23.6% fibonacci retracement and 61.8% fibonacci projection are.
Fundamentals: Since investors have seen evidence that inflation has peaked, we have a bullish view on the dow jones index.