Nasdaq Futures (NQ1!), H4 Potential for a drop!
Title: Nasdaq Futures (NQ1!), H4 Potential for a drop!
Type: Bearish
Resistance : 14829
Pivot: 14642
Support : 14270
Preferred case: With price expected to reverse off the stochastics resistance, we have a bearish bias that price will from our Pivot at 14870 in line pullback support and 78.6% Fibonacci retracement towards our 1st support at 14036 in line with the pullback support and 23.6% Fibonacci retreatment.
Alternative scenario: If prices were to reverse, price may potential rise towards our 1st resistance at 15541 which is in line with the overlap resistance.
Fundamentals: With the concerns over the war in Ukraine, European stocks are expected to trade lower.
Type: Bearish
Resistance : 14829
Pivot: 14642
Support : 14270
Preferred case: With price expected to reverse off the stochastics resistance, we have a bearish bias that price will from our Pivot at 14870 in line pullback support and 78.6% Fibonacci retracement towards our 1st support at 14036 in line with the pullback support and 23.6% Fibonacci retreatment.
Alternative scenario: If prices were to reverse, price may potential rise towards our 1st resistance at 15541 which is in line with the overlap resistance.
Fundamentals: With the concerns over the war in Ukraine, European stocks are expected to trade lower.