S&P 500 (ES1!) H4 I Bullish Uptrend to Extend Higher?
Type:
Bullish Bounce
Key Levels:
Resistance: 6,406.00
Pivot: 6,333.25
Support: 6,265.50
Preferred Case:
Looking at the H4 chart, the price could fall toward the pivot and potentially reverse off this level before rallying toward the 1st Resistance at 6,406.00.
Alternative Scenario:
Price may break below the Pivot at 6,333.25 and fall toward the 1st Support at 6,265.50.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.