YMH2022 (Dow Jones Futures) , H4 Bearish momentum
Type : Bearish downside
Resistance: 33949
Pivot: 33401
Support: 32157
Preferred Case: Price near pivot level of 33401 in line with 38.2% Fibonacci retracement and 38.2% Fibonacci retracement . Price can potentially dip to the 1st support level of 32157 in line with 100% Fibonacci extension and 50% Fibonacci retracement . Our bearish bias is supported by prices trading below the ichimoku indicator
Alternative scenario: Alternatively, price may go to the 1st resistance level of 32157 in line with 100% Fibonacci projection and 50% Fibonacci retracement .
Fundamentals: We expect the downward trend to continue in midst of the Russo-Ukraine crisis as investors continue to stay away from risk-on assets such as large cap stock indices such as DJI. Until further confirmation from the FED on the rate hike circumstances, market will continue momentum with its priced in state.
Resistance: 33949
Pivot: 33401
Support: 32157
Preferred Case: Price near pivot level of 33401 in line with 38.2% Fibonacci retracement and 38.2% Fibonacci retracement . Price can potentially dip to the 1st support level of 32157 in line with 100% Fibonacci extension and 50% Fibonacci retracement . Our bearish bias is supported by prices trading below the ichimoku indicator
Alternative scenario: Alternatively, price may go to the 1st resistance level of 32157 in line with 100% Fibonacci projection and 50% Fibonacci retracement .
Fundamentals: We expect the downward trend to continue in midst of the Russo-Ukraine crisis as investors continue to stay away from risk-on assets such as large cap stock indices such as DJI. Until further confirmation from the FED on the rate hike circumstances, market will continue momentum with its priced in state.
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