E-MINI DOW JONES FUTURES (YM1!), H4 Potential For Bullish Rise

44753 e mini dow jones futures ym1 h4 potential for bullish rise

Type:

Bullish Rise

Key Levels:

Resistance: 33437

Pivot: 32495

Support: 31864

Preferred Case:

On the H4, with price moving along an ascending trendline and above the ichimoku indicator, we have a bullish bias that price will rise from our pivot at 32495 where the pullback support is to the 1st resistance at 33437 where the swing high resistance and -61.8% fibonacci expansion are.

Alternative Scenario:

Alternatively price could break pivot structure and drop to 1st support at 31864 where the pullback support, 38.2% fibonacci retracement 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.

Disclaimer: The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company.

High Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% and 68% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Written by Desmond Leong

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.


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