Type : Bearish Drop
Resistance : 149'12
Pivot: 148'14
Support : 146'14
Preferred case: With price expected to reverse off the ichimoku resistance, we see the potential for bearish drop from our Pivot level at 148'14 in line 61.8% Fibonacci retracement towards our 1st support level at 146'14 in line with the horizontal swing low support.
Alternative scenario: If price breaks out, it can potentially move towards our 1st resistance level at 149'12 which is in line with 78.6% Fibonacci retracement and horizontal swing high resistance.
Fundamentals: Economic risks from inflation and tightening monetary policy causes bearish sentiments around the bonds market.
Resistance : 149'12
Pivot: 148'14
Support : 146'14
Preferred case: With price expected to reverse off the ichimoku resistance, we see the potential for bearish drop from our Pivot level at 148'14 in line 61.8% Fibonacci retracement towards our 1st support level at 146'14 in line with the horizontal swing low support.
Alternative scenario: If price breaks out, it can potentially move towards our 1st resistance level at 149'12 which is in line with 78.6% Fibonacci retracement and horizontal swing high resistance.
Fundamentals: Economic risks from inflation and tightening monetary policy causes bearish sentiments around the bonds market.
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.
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.