Wheat mini Futures ( XW1! ), H4 Potential for Bullish Momentum
Type : Bullish rise
Resistance : 1030'5
Pivot: 901'4
Support : 845'6
Preferred Case: On the H4, with price moving in an ascending trend and trading above the ichimoku indicator, we have a bullish bias that price may rise from the pivot at 901'4 where the 23.6% retracement sits to the 1st resistance at 1030'5 where the 50% fibonacci retracement and overlap support are.
Alternative scenario: Alternatively, price could break pivot structure and drop to the 1st support at 845'6 where the 50% fibonacci retracement and overlap support sits
Fundamentals: No Major News
Resistance : 1030'5
Pivot: 901'4
Support : 845'6
Preferred Case: On the H4, with price moving in an ascending trend and trading above the ichimoku indicator, we have a bullish bias that price may rise from the pivot at 901'4 where the 23.6% retracement sits to the 1st resistance at 1030'5 where the 50% fibonacci retracement and overlap support are.
Alternative scenario: Alternatively, price could break pivot structure and drop to the 1st support at 845'6 where the 50% fibonacci retracement and overlap support sits
Fundamentals: No Major News