S&P 500 E-mini Futures (ES1!) H4 | Bullish continuation targeting key resistance
S&P 500 E-mini Futures (ES1!) H4 | Bullish continuation targeting key resistance
Type:
Bullish Continuation
Key Levels:
Resistance: 6,455.00
Pivot: 6,371.75
Support: 6,325.00
Preferred Case:
On the H4 chart, the price shows signs of bullish momentum after a recent pullback. A move higher toward the 1st Resistance at 6,455.00 is favored, especially if the price remains above the Pivot at 6,371.75.
Alternative Scenario:
If price fails to hold above the Pivot at 6,371.75 and moves lower, there is potential for a pullback toward the 1st Support at 6,325.00.
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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.