NQ1! H4 | Bearish Dip

Price has recently broken through a key support level and near pivot level of 12949 in line with 161.8% Fibonacci projection . Price can potentially rise to our resistance at 13673 in line with the horizontal overlap resistance . Our bullish bias is supported by how price is at the support of both the descending channel and the stochastics indicator.
Alternative scenario: Price may go to 1st support level of 12767 in line with the daily support level .