Title: 10 year T-note Futures (ZB1!) , H4 potential for bearish dip
Type: Bearish dip
Resistance: 157'08
Pivot: 156'19
Support: 154'13
Preferred case: Price is near pivot level which is also a key graphical overlap resistance. Price can potentially dip to the support level of 154'13 in line with 61.8% Fibonacci retracement and 78.6% Fibonacci projection. Our bearish bias is supported by the stochastic level as it is at resistance level.
Alternative scenario: Price can break this key graphical overlap level and go to the 1st resistance level of 157'08 in line with 50% Fibonacci retracement.
Fundamentals: With RUSSO-UKRAINE conflict escalating , Treasury prices may increase as investors look into safe haven assets. As fundamentals and technicals do not align, there is a risk on factor when looking in to ZB1!.
Type: Bearish dip
Resistance: 157'08
Pivot: 156'19
Support: 154'13
Preferred case: Price is near pivot level which is also a key graphical overlap resistance. Price can potentially dip to the support level of 154'13 in line with 61.8% Fibonacci retracement and 78.6% Fibonacci projection. Our bearish bias is supported by the stochastic level as it is at resistance level.
Alternative scenario: Price can break this key graphical overlap level and go to the 1st resistance level of 157'08 in line with 50% Fibonacci retracement.
Fundamentals: With RUSSO-UKRAINE conflict escalating , Treasury prices may increase as investors look into safe haven assets. As fundamentals and technicals do not align, there is a risk on factor when looking in to ZB1!.