Potential Bullish Continuation
Title: E-MINI RUSSELL 2000 INDEX FUTURES (RTY1!), H4 Potential for Bullish Rise
Type : Bullish Rise
Resistance : 1791.8
Pivot: 1701.4
Support : 1643.8
Preferred Case: On the H4, with price moving in an ascending trendline, we have a bullish bias that price will rise from the pivot at 1701.4 at the overlap support in line with the 78.6% fibonacci projection to the resistance at the swing high at 1791.6 in line with the 50% fibonacci retracement and 78.6% fibonacci projection.
Alternative scenario: Alternatively, price may break support structure at the pivot and drop to the support at 1643.8 at the swing low in line with the 61.8% fibonacci projection .
Fundamentals: No major news
Type : Bullish Rise
Resistance : 1791.8
Pivot: 1701.4
Support : 1643.8
Preferred Case: On the H4, with price moving in an ascending trendline, we have a bullish bias that price will rise from the pivot at 1701.4 at the overlap support in line with the 78.6% fibonacci projection to the resistance at the swing high at 1791.6 in line with the 50% fibonacci retracement and 78.6% fibonacci projection.
Alternative scenario: Alternatively, price may break support structure at the pivot and drop to the support at 1643.8 at the swing low in line with the 61.8% fibonacci projection .
Fundamentals: No major news