Type : Bearish Drop
Resistance : 147'30
Pivot: 146'27
Support : 145'23
Preferred case: We see the potential for bearish drop from our Pivot level at 147'30 in line 23.6% Fibonacci retracement towards our 1st support level at 148'24 in line with 78.60% Fibonacci projection and 161.8% Fibonacci extension is. Our bearish bias is supported by how price is moving below the Ichimoku indicator.
Alternative scenario: If price breaks out, it can potentially move towards our 1st resistance level at 147'30 which is in line with 100% Fibonacci projection and horizontal swing high resistance.
Fundamentals: Economic risks from inflation and tightening monetary policy causes bearish sentiments around the bonds market.
Resistance : 147'30
Pivot: 146'27
Support : 145'23
Preferred case: We see the potential for bearish drop from our Pivot level at 147'30 in line 23.6% Fibonacci retracement towards our 1st support level at 148'24 in line with 78.60% Fibonacci projection and 161.8% Fibonacci extension is. Our bearish bias is supported by how price is moving below the Ichimoku indicator.
Alternative scenario: If price breaks out, it can potentially move towards our 1st resistance level at 147'30 which is in line with 100% Fibonacci projection and horizontal swing high resistance.
Fundamentals: Economic risks from inflation and tightening monetary policy causes bearish sentiments around the bonds market.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.