Type: Bullish rise
Resistance : 14870
Pivot: 14434
Support : 14101
Preferred case: With price moving above the ichimoku cloud, we have a bullish bias that price will from our Pivot at 14434 in line with the overlap support towards our 1st resistance at 14870 in line with the horizontal overlap resistance and 78.6% Fibonacci retracement .
Alternative scenario: If prices were to reverse and break out ascending trendline, price may potential drop towards our 1st support at 14101 which is in line with the horizontal overlap and the 23.6% Fibonacci retracement level.
Fundamentals: With the concerns over the war in Ukraine, European stocks are expected to trade lower.
Resistance : 14870
Pivot: 14434
Support : 14101
Preferred case: With price moving above the ichimoku cloud, we have a bullish bias that price will from our Pivot at 14434 in line with the overlap support towards our 1st resistance at 14870 in line with the horizontal overlap resistance and 78.6% Fibonacci retracement .
Alternative scenario: If prices were to reverse and break out ascending trendline, price may potential drop towards our 1st support at 14101 which is in line with the horizontal overlap and the 23.6% Fibonacci retracement level.
Fundamentals: With the concerns over the war in Ukraine, European stocks are expected to trade lower.