S&P 500 Futures ( ES1! ), H4 Potential for Bearish Drop
Title: S&P 500 E-mini Futures ( ES1! ), H4 Potential for Bearish Drop
Type: Bearish Drop
Resistance: 4168.50
Pivot: 4104.00
Support: 3915.00
Preferred case: Looking at the H4 chart, my overall bias for SPXis bearish due to the current price being below the Ichimoku cloud, indicating a bearish market. Expecting price to drop towards the support at 3915.00, which is the overlap support.
Alternative scenario: Price could head back up towards the resistance at 4168.50, where the recent high is.
Fundamentals: There are no major news.
Type: Bearish Drop
Resistance: 4168.50
Pivot: 4104.00
Support: 3915.00
Preferred case: Looking at the H4 chart, my overall bias for SPXis bearish due to the current price being below the Ichimoku cloud, indicating a bearish market. Expecting price to drop towards the support at 3915.00, which is the overlap support.
Alternative scenario: Price could head back up towards the resistance at 4168.50, where the recent high is.
Fundamentals: There are no major news.