Title : NQ1! H4 | Bullish Continuation
Title : NQ1! H4 | Bullish Continuation
Type: Bullish continuation
Resistance: 14612.50
Pivot : 14144.75
Support: 13851.50
Preferred Case: Price is near pivot level of 14144.75 in line with 38.2% Fibonacci retracement. Price can potentially continue its uptrend to 1st resistance level of 14612.50 in line with 61.8% Fibonacci retracement and 127.2% Fibonacci projection. Our bullish bias is supported by the stochastic indicator as it shows a divergence
Alternative scenario: Price dip to 1st support level of 13851.50 in line with 78.6% Fibonacci projection and 127.2% Fibonacci retracement
Fundamentals : With impending rate hikes and Russo-Ukraine escalation, you can expect the Tech heavy NASDAQ to continue dipping. Investors continue to flock to safe haven assets leading to a downtrend continuation for NQ1!. As TA and FA do not align, we urge investors to stay on the sidelines.
Type: Bullish continuation
Resistance: 14612.50
Pivot : 14144.75
Support: 13851.50
Preferred Case: Price is near pivot level of 14144.75 in line with 38.2% Fibonacci retracement. Price can potentially continue its uptrend to 1st resistance level of 14612.50 in line with 61.8% Fibonacci retracement and 127.2% Fibonacci projection. Our bullish bias is supported by the stochastic indicator as it shows a divergence
Alternative scenario: Price dip to 1st support level of 13851.50 in line with 78.6% Fibonacci projection and 127.2% Fibonacci retracement
Fundamentals : With impending rate hikes and Russo-Ukraine escalation, you can expect the Tech heavy NASDAQ to continue dipping. Investors continue to flock to safe haven assets leading to a downtrend continuation for NQ1!. As TA and FA do not align, we urge investors to stay on the sidelines.