Bearish Momentum

Key Levels:
Resistance: 12229.00
Pivot: 11754.00
Support: 11081.00

Preferred Case:
On the H4, with price moving in a descending trendline and moving below the ichimoku cloud , we have a bearish bias that price will drop from the pivot at 11754.00 in line with the overlap resistance and 38.2% fibonacci retracement to the 1st support at 11081.00 at the swing low in line with the 61.8% fibonacci projection .

Alternative Scenario:
Alternatively, price may reverse off the pivot and rise to the 1st resistance at 12229.00 at the swing high in line with the 61.8% fibonacci retracement and 78.6% fibonacci projection

With the possibility of US recession, soaring inflation and higher interest rates, we have a bearish bias on NAS DAQ.