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.