NQ1! H4 | Bullish Continuation
Type: Bullish Continuation
Resistance : 14602
Pivot: 14034
Support: 13834
Preferred case :With price expected to bounce off the stochastcs, we may see a rise from our pivot of 14034 in line with the horizontal swing low support and 61.8% Fibonacci projection to 1st resistance of 14602 in line with the 50% Fibonacci retracement level and horizontal overlap resistance.
Alternative scenario : Alternatively, price may break our pivot structure and head for our 1st support at 13834 in line with the horizontal swing low support.
Fundamentals : Stock futures continue to be under heavy pressure with impending rate hikes and developing tensions between Ukraine and Russia . With fears of a increased rate hike greater than previously promised, market sentiments continue to be weakly bearish.
Type: Bullish Continuation
Resistance : 14602
Pivot: 14034
Support: 13834
Preferred case :With price expected to bounce off the stochastcs, we may see a rise from our pivot of 14034 in line with the horizontal swing low support and 61.8% Fibonacci projection to 1st resistance of 14602 in line with the 50% Fibonacci retracement level and horizontal overlap resistance.
Alternative scenario : Alternatively, price may break our pivot structure and head for our 1st support at 13834 in line with the horizontal swing low support.
Fundamentals : Stock futures continue to be under heavy pressure with impending rate hikes and developing tensions between Ukraine and Russia . With fears of a increased rate hike greater than previously promised, market sentiments continue to be weakly bearish.