S&P 500 Futures ( ES1! ), H4 Potential for Bearish Momentum
Type: Bearish Momentum
Resistance: 3907.96
Pivot: 3650.02
Support: 3220.89
Preferred Case: On H4, with the price moving below the ichimoku cloud and descending trend, we have a bearish bias that the price may drop from the pivot at 3650.02, where the previous swing low sits to the 1st support at 3220.89, where the 161.8% extension sits.
Alternative scenario: Alternatively, price may bounce back to the resistance level at 3907.96
Fundamentals: No major news
Resistance: 3907.96
Pivot: 3650.02
Support: 3220.89
Preferred Case: On H4, with the price moving below the ichimoku cloud and descending trend, we have a bearish bias that the price may drop from the pivot at 3650.02, where the previous swing low sits to the 1st support at 3220.89, where the 161.8% extension sits.
Alternative scenario: Alternatively, price may bounce back to the resistance level at 3907.96
Fundamentals: No major news
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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