Aluminum Futures ( ALUMINIL ), H4 Potential for Bullish continua
Title: Aluminum Futures ( ALUMINIL ), H4 Potential for Bullish continuation
Type: Bullish continuation
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.
Type: Bullish continuation
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.