Type: Bearish ContinuationKey Levels:Resistance: 153’30Pivot: 1513’15Support: 151’07Preferred Case:Price is trading in a descending channel and near pivot level of 153’15 in line with 50% Fibonacci retracement and 127.2% Fibonacci projection. Price can potentially dip to the 1st support level of 151’07 in line with 78.6% Fibonacci retracement and 78.6% Fibonacci projection. Our bearish bias is supported by the Ichimoku cloud indicator.Alternative Scenario:If prices continue to rally. Price can potentially dip to the 1st support level of 151’07 in line with 78.6% Fibonacci retracement and 78.6% Fibonacci projection.Fundamentals: As russo-ukraine tensions continue to escalate. Bond prices will continue to increase as investors flock to safe haven assets. As fundamentals and technicals do not align, there is a risk factor when looking into ZB1!
Source: Tickmill
