Preferred case: The current bias for ES1! on the H4 chart is bullish . To add to this bias, the price is currently trading above the Ichimoku cloud and breaking the descending trendline, indicating a bullish market. If the bullish momentum continues, price may head towards the resistance at 4203.00, where the previous high is located.
Alternative scenario: Price may retrace downwards and head towards the 3818.00 support level , where the 38.2% Fibonacci line is located.