Type: Bearish DropKey Levels:Resistance: 14591Pivot: 14346Support: 14049Preferred Case:With price moving below the Ichimoku cloud, we have a bearish bias that price will drop to our support at 14049 in line with the horizontal overlap support from our pivot at 14346 in line with the 38.2% Fibonacci retracement and horizontal pullback resistance.Alternative Scenario:Alternatively, price may break pivot structure and head for 1st resistance at 14591 in line with the swing high resistance.Fundamentals:With the concerns over the war in Ukraine, European stocks are expected to trade lower.
Source: Tickmill