10 Year T-bond (ZN1!), H4 | Potential Bullish ReversalIdea: Potential Bullish Reversal Resistance: 128″06″0 Support : 126″23″5 Pivot : 127″02″0Preferred Scenario: Price is trading in a descending channel has recently bounce from key support level. Price can potentially continue its bullish momentum from our pivot of 127″02″0 in line with 78.6% Fibonacci extension and 23.6% Fibonacci retracement towards the resistance level of 128″06″0 which is also 61.8% Fibonacci retracement and 127.2% Fibonacci extension. Our bullish bias is supported by the stochastic indicator as it is at support level. Alternative scenario: Alternatively price may dip to support level of 126″23″5 in line with 100% Fibonacci extension.
Source: Tickmill