Aluminum Futures ( ALUMINIL ), H4 Potential for Bullish continuation

Type:
Bullish Continuation

Key Levels:
Resistance:
218.00
Pivot:
211.00
Support:
201.40

Preferred Case:
Looking at the H4 chart, my overall bias for ALUMINIL is bullish due to the current price crossing above the Ichimoku cloud, indicating a bullish market. If this bullish momentum continues, expect price to continue heading towards the resistance at 218.00, where the previous swing high is.

Alternative Scenario:
Price may head back down to retest the pivot at 211.00, where the 38.2% Fibonacci line is.

Fundamentals:
There are no major news.

Source: Tickmill

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