NASDAQ 100 E-mini , H4 Potential Bearish Continuation

2022년 2월 25일

On the H4, we can see that price is moving along the descending channel . This is signifying bearish momentum. We are expecting price to fall from pivot at 13986.75 which is in line with our 61.8% fibonacci retracement and horizontal swing high resistance to 1st support at 13133.25 in line with 78.6% fibonacci projection and along with horizontal swing low support. Alternatively, price may break through 1st resistance and halt to 2nd resistance at 14394.75 which in line with our 78.6% fibonacci retracement , along with horizontal overlap resistance. Our bias is further supported by how price is moving below the Ichimoko cloud.