Nasdaq-100 Futures (NQ1!) H4 | Pullback Support at 38.2% Fibonacci Retracement
Nasdaq-100 Futures (NQ1!) H4 | Pullback Support at 38.2% Fibonacci Retracement
Type:
Bullish Bounce
Key Levels:
Resistance: 22,077.25
Pivot: 21,743.00
Support: 21,498.00
Preferred Case:
Looking at the H4 chart, the price could fall towards a pullback support and stabilize before making a bullish bounce to rise towards the 1st Resistance at 22,077.25.
Alternative Scenario:
Price may break below the Pivot at 21,743.00 to fall towards the 1st Support at 21,498.00.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.