NASDAQ(NQ1!), H4 Potential For Bulish Rise

34542 nasdaqnq1 h4 potential for bulish rise

Type: Bullish RiseKey Levels:Resistance: 13946Pivot: 13484 Support: 12294Preferred Case:On the H4 chart, price is near our pivot of 13118 in line with horizontal overlap support and 78.6% Fibonacci projection. Price can potentially rise to our 1st resistance level at 14405 in line with the 100% Fibonacci projection. Our bullish bias is supported by how price is expected to bounce off support.Alternative Scenario:Alternatively, price may head to our 1st support at 12667 in line with the horizontal overlap support and 61.8% Fibonacci retracement.Fundamentals: With the ongoing Russia- Ukraine tension, we can expect to see bearishness in the US indices.

Source: Tickmill

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