S&P 500 E-MINI FUTURES (ES1!), H4 Potential For Bearish Continuation

40251 sp 500 e mini futures es1 h4 potential for bearish continuation

Type: Bearish MomentumKey Levels:Resistance: 4293.75Pivot: 4199.75Support: 3971.25Preferred Case:On the H4, with price entering a bearish pressure area on our MACD indicator, we have a bearish bias that price will drop from the pivot at 4199.75 in line with the swing high to the horizonatal support level at 3971.25 in line with the 61.8% fibonacci projection and 61.8% fibonacci retracement.Alternative Scenario:Price may reverse off the pivot and rise to the overlap resistance level at 4293.75Fundamentals:No major news

Source: Tickmill

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