Type:
Bullish Continuation
Key Levels:
Resistance: 156'17
Pivot: 153'29
Support: :151'07
Preferred Case:
Price is near pivot level of 153'29 in line with 161.8% Fibonacci projection and 61.8% Fibonacci retracement. Price can potentially go to the 1st resistance of 156'17 which is also the graphical swing high level. Our bullish bias is supported by the ichimoku cloud indicator as price is trading above the clouds
Alternative Scenario:
Price can dip to the 1st support level of 152'17 in line with 38.2% Fibonacci retracement and 61.8% Fibonacci projection
Fundamentals:
As russo-ukraine tensions continue to escalate, bond prices will continue to increase with investors flocking to safe haven assets.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.