NASDAQ 100 E-mini , H4 Potential Bearish Continuation
On the H4, we can see that price is moving along the descending channel. This is signifying bearish momentum. We are expecting price to fall from pivot at 13986.75 which is in line with our 61.8% fibonacci retracement and horizontal swing high resistance to 1st support at 13133.25 in line with 78.6% fibonacci projection and along with horizontal swing low support. Alternatively, price may break through 1st resistance and halt to 2nd resistance at 14394.75 which in line with our 78.6% fibonacci retracement, along with horizontal overlap resistance. Our bias is further supported by how price is moving below the Ichimoko cloud.
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