Type: Bullish rise
Resistance : 14870
Pivot: 14090
Support : 13466
Preferred case: With price moving above the ichimoku cloud, we have a bullish bias that price will from our Pivot at 14090 in line pullback support and 23.6% Fibonacci retracement towards our 1st resistance at 14870 in line with the pullback resistance and 78.6% Fibonacci retracement .
Alternative scenario: If prices were to reverse, price may potential drop towards our 1st support at 13466 which is in line with the swing low support and 50% Fibonacci retracement level.
Fundamentals: With the concerns over the war in Ukraine, European stocks are expected to trade lower.
Resistance : 14870
Pivot: 14090
Support : 13466
Preferred case: With price moving above the ichimoku cloud, we have a bullish bias that price will from our Pivot at 14090 in line pullback support and 23.6% Fibonacci retracement towards our 1st resistance at 14870 in line with the pullback resistance and 78.6% Fibonacci retracement .
Alternative scenario: If prices were to reverse, price may potential drop towards our 1st support at 13466 which is in line with the swing low support and 50% Fibonacci retracement level.
Fundamentals: With the concerns over the war in Ukraine, European stocks are expected to trade lower.