S&P 500 E-mini Futures (ES1!), H4 Potential for Bearish Momentum
Type: Bearish Momentum
Resistance: 4008.75
Pivot: 3821.75
Support: 3507.75
Preferred Case: On H4, as the price moving below descending trendlines and ichimoku cloud , we have a bearish bias that the price may drop from the pivot at 3821.75, which is in line with the 50% fibonacci retracement to the 1st support at 3507.75 where the swing low is.
Alternative scenario: Alternatively, the price may rise to the 1st resistance at 4008.75, which is in line with the 61.8% fibonacci retracement .
Fundamentals: There are no major news.
Resistance: 4008.75
Pivot: 3821.75
Support: 3507.75
Preferred Case: On H4, as the price moving below descending trendlines and ichimoku cloud , we have a bearish bias that the price may drop from the pivot at 3821.75, which is in line with the 50% fibonacci retracement to the 1st support at 3507.75 where the swing low is.
Alternative scenario: Alternatively, the price may rise to the 1st resistance at 4008.75, which is in line with the 61.8% fibonacci retracement .
Fundamentals: There are no major news.
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