S&P 500 E-mini Futures ( ES1! ), H4 Potential for Bearish Drop
Title: S&P 500 E-mini Futures ( ES1! ), H4 Potential for Bearish Drop
Type: Bearish Drop
Resistance: 4037.50
Pivot: 3966.50
Support: 3788.50
Preferred case: Looking at the H4 chart, my overall bias for SPX is bearish due to the current price crossing below the Ichimoku cloud , indicating a bearish market. To add confluence to this bias, price has also broken down and out of the ascending channel . If this bearish momentum continues, expect price to continue heading towards the support at 3788.50, where the previous swing low is.
Alternative scenario: Price could head back up to retest the pivot at 3966.50, where the 23.6% Fibonacci line is.
Fundamentals: There are no major news.
Type: Bearish Drop
Resistance: 4037.50
Pivot: 3966.50
Support: 3788.50
Preferred case: Looking at the H4 chart, my overall bias for SPX is bearish due to the current price crossing below the Ichimoku cloud , indicating a bearish market. To add confluence to this bias, price has also broken down and out of the ascending channel . If this bearish momentum continues, expect price to continue heading towards the support at 3788.50, where the previous swing low is.
Alternative scenario: Price could head back up to retest the pivot at 3966.50, where the 23.6% Fibonacci line is.
Fundamentals: There are 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
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.