Nasdaq Futures (NQ1!) H4 | Bullish continuation toward the 161.8% extension
Nasdaq Futures (NQ1!) H4 | Bullish continuation toward the 161.8% extension
Type:
Bullish Bounce
Key Levels:
Resistance: 23,614.00
Pivot: 23,410.00
Support: 23,273.25
Preferred Case:
On the H4 timeframe, the current bullish momentum suggests the price could continue upward after a potential retest of the pivot at 23,410.00, aiming for the 1st Resistance at 23,614.00.
Alternative Scenario:
If the price fails to hold above the Pivot at 23,410.00, a deeper pullback toward the 1st Support at 23,273.25 may occur before any potential recovery.
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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.