Type: Bearish DipKey Levels:Resistance: 14950Pivot: 14870Support: 14727Preferred Case:We see the potential bearish dip from our Pivot at 14870 in line 23.6% and 61.8% Fibonacci retracement towards our 1st support at 14727 in line with the horizontal swing low support and 61.8% Fibonacci projection. Our bearish bias is further supported by how price is moving below our Ichimoku cloud.Alternative Scenario:Price might move towards the 1st resistance level of 14950 in line with 38.2% Fibonacci retracement and swing high resistance.Fundamentals:Economic risks from inflation and tightening monetary policy causes bearish sentiments around indices.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/nasdaq-futures-nq1-h1-potential-for-bearish-dip"
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