Type : Bearish Dip
Resistance : 14006
Pivot: 13672
Support : 13085
Preferred Case: Price is near pivot level of 14006 in line with the horizontal overlap resistance. Price can potentially dip to the support level of 13085 in line with 78.6% Fibonacci projection. Our bearish bias is supported by the ichimoku cloud indicator.
Alternative scenario: Alternatively, price could break pivot structure and head for our 1st resistance level of 14006 in line with the horizontal overlap resistance
Fundamentals: With the ongoing Russia- Ukraine tension, we can expect to see bearishness in the US indices.
Resistance : 14006
Pivot: 13672
Support : 13085
Preferred Case: Price is near pivot level of 14006 in line with the horizontal overlap resistance. Price can potentially dip to the support level of 13085 in line with 78.6% Fibonacci projection. Our bearish bias is supported by the ichimoku cloud indicator.
Alternative scenario: Alternatively, price could break pivot structure and head for our 1st resistance level of 14006 in line with the horizontal overlap resistance
Fundamentals: With the ongoing Russia- Ukraine tension, we can expect to see bearishness in the US indices.