Micro Dow Jones Futures (MYM1!), H4 Potential for Bullish Rise
Type : Bullish Rise
Resistance : 33429
Pivot: 32609
Support : 31859
Preferred Case: On the H4, with prices moving above the ichimoku indicator, we have a bullish bias that price will rise from the pivot at 32609 where the pullback support is to the 1st resistance at 33429 where the swing high resistance, -61.8% fibonacci expansion and 161.8% fibonacci extension are.
Alternative scenario: Alternatively, price could break pivot structure and drop to the 1st support at 31859 where the pullback support, 38.2% fibonacci retracement , -61.8% fibonacci expansion and 78.6% fibonacci projection are.
Fundamentals: Due to fresh worries of global growth, we have a bearish view on the Dow Jones Index. We'll need to exercise caution for this setup because our fundamentals and technicals are not completely aligned.
Resistance : 33429
Pivot: 32609
Support : 31859
Preferred Case: On the H4, with prices moving above the ichimoku indicator, we have a bullish bias that price will rise from the pivot at 32609 where the pullback support is to the 1st resistance at 33429 where the swing high resistance, -61.8% fibonacci expansion and 161.8% fibonacci extension are.
Alternative scenario: Alternatively, price could break pivot structure and drop to the 1st support at 31859 where the pullback support, 38.2% fibonacci retracement , -61.8% fibonacci expansion and 78.6% fibonacci projection are.
Fundamentals: Due to fresh worries of global growth, we have a bearish view on the Dow Jones Index. We'll need to exercise caution for this setup because our fundamentals and technicals are not completely aligned.
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