Type:
Bullish Rise
Key Levels:
Resistance: 35402
Pivot: 34029
Support: 33430
Preferred Case:
On the H4, with price moving above the ichimoku indicator and along an ascending trendline, we have a bullish bias that price will rise from the pivot at 34029 where the pullback support is to the 1st resistance at 35402 in line with swing high resistance, -61.8% fibonacci expansion and 161.8% fibonacci extension .
Alternative Scenario:
Alternatively, price could break pivot structure and drop to 1st support at 33430 where the pullback support, 23.6% fibonacci retracement and 61.8% fibonacci projection are.
Fundamentals:
Since investors have seen evidence that inflation has peaked, we have a bullish view on the dow jones index.
Source: Tickmill
