Type: Bearish ContinuationKey Levels:Resistance: 15254Pivot:Support:Preferred Case:With price moving below the Ichimoku cloud, we are biased that price retest at our pivot of 14478 in line with the 38.2% Fibonacci retracement and horizontal overlap resistance and dip to our 1st support at 13843 in line with the horizontal swing low support and 61.8% Fibonacci projection level.Alternative Scenario:Alternatively, price could potentially break out pivot structure and head to 1st resistance at 15254 in line with the horizontal swing high resistance and 78.6% Fibonacci projection.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
