Type: Bearish ContinuationKey Levels:Resistance: 15067Pivot: 14514Support: 14086Preferred Case:With price moving below the Ichimoku cloud, we are biased that price retest at our pivot of 14514 in line with the 78.6% Fibonacci retracement and horizontal overlap resistance and dip to our 1st support at 14086 in line with the horizontal swing low support.Alternative Scenario:Alternatively, price could potentially break out pivot structure and head to 1st resistance at 15067 in line with the horizontal swing high resistance.Fundamentals:With the gradual de- escalation of US-RUSSO conflict, stocks can potentially have a relief rally as good news continue to move the market. However, there might be limited upside due to the presence of imminent rate hikes which is happening in March.
Source: Tickmill
