Type: Bearish ContinuationKey Levels:Resistance: 14602Pivot: 14034Support: 13834Preferred Case:With price expected to bounce off the stochastics, we may see a rise from our pivot of 14034 in line with the horizontal swing low support and 61.8% Fibonacci projection to 1st resistance of 14602 in line with the 50% Fibonacci retracement level and horizontal overlap resistance.Alternative Scenario:Alternatively, price may break our pivot structure and head for our 1st support at 13834 in line with the horizontal swing low support.Fundamentals: Stock futures continue to be under heavy pressure with impending rate hikes and developing tensions between Ukraine and Russia . With technicals and fundamentals aligning , market sentiments continue to be weakly bearish.
Source: Tickmill