Title: 10-YEAR T-NOTE FUTURES (ZN1!), H4 Potential for Bullish Bounce
Type : Bullish Bounce
Resistance : 120'30'5
Pivot: 118'07'0
Support : 116'17'0
Preferred Case: On the H4, with price moving in an ascending trend channel and moving above the ichimoku cloud , we have a bullish bias that price will bounce off the pivot at 118'07'0 in line with the overlap support to the 1st resistance at 120'30'5 at the swing high.
Alternative scenario: Alternatively, price may break the support structure at the pivot and drop to the 1st support at 116'17'0 at the overlap swing low in line with the two 61.8% fibonacci projections.
Fundamentals: US indexes moved moderately higher with better-than-expected US economic reports. Hence, we have a bullish view on the 10-year t-note futures.
Type : Bullish Bounce
Resistance : 120'30'5
Pivot: 118'07'0
Support : 116'17'0
Preferred Case: On the H4, with price moving in an ascending trend channel and moving above the ichimoku cloud , we have a bullish bias that price will bounce off the pivot at 118'07'0 in line with the overlap support to the 1st resistance at 120'30'5 at the swing high.
Alternative scenario: Alternatively, price may break the support structure at the pivot and drop to the 1st support at 116'17'0 at the overlap swing low in line with the two 61.8% fibonacci projections.
Fundamentals: US indexes moved moderately higher with better-than-expected US economic reports. Hence, we have a bullish view on the 10-year t-note futures.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.