Title: 10 year T-note Futures ( ZB1! ) , H4 potential for bearish dip
Type: Bearish Dip
Resistance : 161'08
Pivot : 160'11
Support : 156'19
Preferred Case: Price is near pivot level of 160'11 which is also the graphical overlap resistance. Price can potentially dip to the support level of 156'19 in line with 38.2% Fibonacci retracement and 61.8% Fibonacci projection. Our bearish bias is supported the stochastic indicator as it is at resistance level,
Alternative scenario: Alternatively price go to the resistance level of 161'08 in line with 78.6% Fibonacci retracement.
Fundamentals: The US has repeatedly stress that US troops will not be directly involved in the conflict between Russia and Ukraine. However, the ramifications faced by the US due to heavy sanctions on Russia is not fully realized. Prices of bonds may continue to increase as investors continue to flee to safe haven assets. As technicals and fundamentals do not align , there is a risk on factor when looking in to ZB1!.
Type: Bearish Dip
Resistance : 161'08
Pivot : 160'11
Support : 156'19
Preferred Case: Price is near pivot level of 160'11 which is also the graphical overlap resistance. Price can potentially dip to the support level of 156'19 in line with 38.2% Fibonacci retracement and 61.8% Fibonacci projection. Our bearish bias is supported the stochastic indicator as it is at resistance level,
Alternative scenario: Alternatively price go to the resistance level of 161'08 in line with 78.6% Fibonacci retracement.
Fundamentals: The US has repeatedly stress that US troops will not be directly involved in the conflict between Russia and Ukraine. However, the ramifications faced by the US due to heavy sanctions on Russia is not fully realized. Prices of bonds may continue to increase as investors continue to flee to safe haven assets. As technicals and fundamentals do not align , there is a risk on factor when looking in to ZB1!.