Type: Bearish DipKey Levels:Resistance: 14372.25Pivot: 13842.25Support: 12724.25Preferred Case: Price has recently broken through a key support level and near pivot level of 14034 in line with 38.2% Fibonacci retracement . Price can potentially dip to the support level of 13624 in line with the horizontal swing low support . Our bearish bias is supported by the ichimoku cloud indicatorAlternative Scenario:Price may go to 1st resistance level of 14407 in line with 78.6% Fibonacci retracement.Fundamentals:Stock futures continue to cripple under growing pressure due to the escalating tensions between Ukraine and Russia. With sanctions proposed by the respective countries , NASDAQ will certainly continue its downtrend.
Source: Tickmill
