Type: Bullish rise
Resistance : 14870
Pivot: 14064
Support : 13736
Preferred case: We see the potential for a further bullish rise from our Pivot at 14064 in line pullback support and 23.6% and 50% Fibonacci retracement towards our 1st resistance at 14870 in line with the pullback resistance and 38.2% and 78.6% Fibonacci retracement. Our bullish bias is further supported prices trading above our ichimoku cloud.
Alternative scenario: If prices were to reverse, they can potentially drop towards our 1st Support at 13736 which is in line with the swing low support and the 38.2% and 78.6% Fibonacci retracement.
Fundamentals: With the concerns over the war in Ukraine, European stocks are expected to trade lower.
Resistance : 14870
Pivot: 14064
Support : 13736
Preferred case: We see the potential for a further bullish rise from our Pivot at 14064 in line pullback support and 23.6% and 50% Fibonacci retracement towards our 1st resistance at 14870 in line with the pullback resistance and 38.2% and 78.6% Fibonacci retracement. Our bullish bias is further supported prices trading above our ichimoku cloud.
Alternative scenario: If prices were to reverse, they can potentially drop towards our 1st Support at 13736 which is in line with the swing low support and the 38.2% and 78.6% Fibonacci retracement.
Fundamentals: With the concerns over the war in Ukraine, European stocks are expected to trade lower.