E-mini Natural Gas Futures (QG1!), H4 Potential for Bullish Rise

Type : Bearish Drop
Resistance :8.500
Pivot: 8.125
Support : 7.680

Preferred Case: On the H4, with the Stoch is below 20, and the price is above ascending trendline, as well as ischimoku cloud, we have a bullish bias that the price may rise from the pivot at 8.125, which is in line with the 78.6% fibonacci retracement to 1st resistance at 8.500, which is in line with the overlap resistance.

Alternative scenario: Alternatively, price could break pivot structure and drop to 1st support at 7.680, where the overlap support and 50% fibonacci retracement are.

Fundamentals: No major news.