Type: Bullish BounceKey Levels:Resistance: 15062Pivot: 14487Support: 13900Preferred Case:With price expected to reverse off the support of the ichimoku cloud, we are bias that price will rise from our pivot at 14487 in line with the 61.8% Fibonacci projection level and horizontal overlap support to 1st resistance at 15062 in line with the horizontal swing high resistance.Alternative Scenario:Price can potentially break pivot structure and dip to the support level of 13900 in line with the horizontal swing low support and 127.2% Fibonacci projection level.Fundamentals:Thursday CPI data clearly shows that inflation isn’t transitionary as the FED predicted. Instead, inflation will continue to persist as long as supply constrains continue to plague the market. Fear of aggressive rate hikes cause NASDAQ which is heavy in tech stocks to drop. As technicals and fundamentals do not line up , do be careful when looking in to NQ1!
Source: Tickmill
