NAS DAQ 100 E-mini ( NQ1! ) Futures , H4 Potential For Bearish Continuation

42187 nas daq 100 e mini nq1 futures h4 potential for bearish continuation

Type: Bearish MomentumKey Levels:Resistance: 12229.00Pivot: 11754.00Support: 11081.00Preferred Case:On the H4, with price moving in a descending trendline and moving below the ichimoku cloud , we have a bearish bias that price will drop from the pivot at 11754.00 in line with the overlap resistance and 38.2% fibonacci retracement to the 1st support at 11081.00 at the swing low in line with the 61.8% fibonacci projection .Alternative Scenario:Alternatively, price may reverse off the pivot and rise to the 1st resistance at 12229.00 at the swing high in line with the 61.8% fibonacci retracement and 78.6% fibonacci projectionFundamentals:With the possibility of US recession, soaring inflation and higher interest rates, we have a bearish bias on NAS DAQ.

Source: Tickmill

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