Title : NQ1! H4 | Bullish Continuation

Title : NQ1! H4 | Bullish Continuation

Title : NQ1! H4 | Bullish Continuation
Type: Bullish continuation
Resistance: 14612.50
Pivot : 14144.75
Support: 13851.50

Preferred Case: Price is near pivot level of 14144.75 in line with 38.2% Fibonacci retracement . Price can potentially continue its uptrend to 1st resistance level of 14612.50 in line with 61.8% Fibonacci retracement and 127.2% Fibonacci projection . Our bullish bias is supported by the stochastic indicator as it shows a divergence

Alternative scenario: Price dip to 1st support level of 13851.50 in line with 78.6% Fibonacci projection and 127.2% Fibonacci retracement

Fundamentals : With impending rate hikes and Russo-Ukraine escalation, you can expect the Tech heavy NASDAQ to continue dipping. Investors continue to flock to safe haven assets leading to a downtrend continuation for NQ1! . As TA and FA do not align, we urge investors to stay on the sidelines.

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