Nikkei Futures ( NKD1!), H4 Potential for Bearish continuation
Title: Nikkei Futures ( NKD1!), H4 Potential for Bearish continuation
Type: Bearish continuation
Resistance: 26555
Pivot: 25960
Support: 25610
Preferred case: Looking at the H4 chart, my overall bias for NKD1! is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market. If this bearish momentum continues, expect price to continue heading towards the support at 25610, where the previous swing low is.
Alternative scenario: Price may head back up to retest the pivot at 25960, where the 61.8% Fibonacci line is.
Fundamentals: There are no major news.
Type: Bearish continuation
Resistance: 26555
Pivot: 25960
Support: 25610
Preferred case: Looking at the H4 chart, my overall bias for NKD1! is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market. If this bearish momentum continues, expect price to continue heading towards the support at 25610, where the previous swing low is.
Alternative scenario: Price may head back up to retest the pivot at 25960, where the 61.8% Fibonacci line is.
Fundamentals: There are no major news.