E-mini Dow Jones ( YM1! ), H4 Potential for Bullish Continuation
Title: E-mini Dow Jones Futures ( YM1! ), H4 Potential for Bullish Continuation
Type: Bullish Continuation
Resistance: 34707
Pivot: 34199
Support: 33675
Preferred case: Looking at the H4 chart, my overall bias for YM1! is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. If this bullish momentum continues, expect price to possibly head up towards the resistance at 34707, where the previous swing high is.
Alternative scenario: Price could head back down to retest the pivot at 34199, where the 61.8% Fibonacci line is.
Fundamentals: There are no major news.
Type: Bullish Continuation
Resistance: 34707
Pivot: 34199
Support: 33675
Preferred case: Looking at the H4 chart, my overall bias for YM1! is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. If this bullish momentum continues, expect price to possibly head up towards the resistance at 34707, where the previous swing high is.
Alternative scenario: Price could head back down to retest the pivot at 34199, where the 61.8% Fibonacci line is.
Fundamentals: There are no major news.