S&P 500 E-mini Futures (ES1!), H4 Potential for Bearish Drop
Type: Bearish Momentum
Resistance: 4013.50
Pivot: 3914.50
Support: 3641.00
Preferred Case: On H4, as the price moving below descending trendlines , we have a bearish bias that the price may drop from the pivot at 3914.50. which is in line with the overlap resistance and 50% fibonacci retracement to the 1st support at 3641.00 where the 61.8% fibonacci retracement and overlap support are.
Alternative scenario: Alternatively, the price may rise to the 1st resistance at 4013.50, which is in line with the 61.8% fibonacci retracement .
Fundamentals: There are no major news.
Resistance: 4013.50
Pivot: 3914.50
Support: 3641.00
Preferred Case: On H4, as the price moving below descending trendlines , we have a bearish bias that the price may drop from the pivot at 3914.50. which is in line with the overlap resistance and 50% fibonacci retracement to the 1st support at 3641.00 where the 61.8% fibonacci retracement and overlap support are.
Alternative scenario: Alternatively, the price may rise to the 1st resistance at 4013.50, which is in line with the 61.8% fibonacci retracement .
Fundamentals: There are no major news.
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