Title : NQ1! H4 | Bullish Continuation
Type: Bullish continuation
Resistance: 14612.50
Pivot : 14144.75
Support: 13851.50
Preferred Case: Price is near pivot level of 14144.75 in line with 38.2% Fibonacci retracement . Price can potentially continue its uptrend to 1st resistance level of 14612.50 in line with 61.8% Fibonacci retracement and 127.2% Fibonacci projection . Our bullish bias is supported by the stochastic indicator as it shows a divergence
Alternative scenario: Price dip to 1st support level of 13851.50 in line with 78.6% Fibonacci projection and 127.2% Fibonacci retracement
Fundamentals : With impending rate hikes and Russo-Ukraine escalation, you can expect the Tech heavy NASDAQ to continue dipping. Investors continue to flock to safe haven assets leading to a downtrend continuation for NQ1! . As TA and FA do not align, we urge investors to stay on the sidelines.
Type: Bullish continuation
Resistance: 14612.50
Pivot : 14144.75
Support: 13851.50
Preferred Case: Price is near pivot level of 14144.75 in line with 38.2% Fibonacci retracement . Price can potentially continue its uptrend to 1st resistance level of 14612.50 in line with 61.8% Fibonacci retracement and 127.2% Fibonacci projection . Our bullish bias is supported by the stochastic indicator as it shows a divergence
Alternative scenario: Price dip to 1st support level of 13851.50 in line with 78.6% Fibonacci projection and 127.2% Fibonacci retracement
Fundamentals : With impending rate hikes and Russo-Ukraine escalation, you can expect the Tech heavy NASDAQ to continue dipping. Investors continue to flock to safe haven assets leading to a downtrend continuation for NQ1! . As TA and FA do not align, we urge investors to stay on the sidelines.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results