Potential for Bullish Momentum
Title: Euro E-mini Futures ( E71! ), H4 Potential for Bearish Momentum
Type : Bearish Momentum
Resistance : 1.0790
Pivot: 1.0654
Support : 1.0428
Preferred Case: On the H4, with price recently breaking the ascending trendline and moving below the ichimoku cloud , we have a bearish bias that price will drop from the pivot at 1.0654 in line with the 50% fibonacci retracement , to the 1st support at 1.0428 at the swing low in line with the 61.8% fibonacci retracement .
Alternative scenario: Alternatively, price may reverse off the pivot and rise to the overlap 1st resistance at 1.0790 at the multiple swing highs in line with the 78.6% fibonacci projection and 50% fibonacci retracement .
Type : Bearish Momentum
Resistance : 1.0790
Pivot: 1.0654
Support : 1.0428
Preferred Case: On the H4, with price recently breaking the ascending trendline and moving below the ichimoku cloud , we have a bearish bias that price will drop from the pivot at 1.0654 in line with the 50% fibonacci retracement , to the 1st support at 1.0428 at the swing low in line with the 61.8% fibonacci retracement .
Alternative scenario: Alternatively, price may reverse off the pivot and rise to the overlap 1st resistance at 1.0790 at the multiple swing highs in line with the 78.6% fibonacci projection and 50% fibonacci retracement .
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