10 Year T-Note Futures (ZB1!) , H4 potential for bounce Title: 10 Year T-Note Futures (ZB1!) , H4 potential for bounce
Type: Bullish bounce
Resistance : 154'10
Pivot: 152'09
Support : 151'08
Preferred case: Price has recently bounce from pivot level of 152'09 in line with 61.8% Fibonacci retracement and 100% Fibonacci projection. Price can potentially go to resistance level of 154'10 in line with 78.6% Fibonacci retracement. Our bullish bias is supported by the moving average as price is trading above it.
Alternative scenario: Price can potentially dip to the support level of 151'08 in line with 127.2% Fibonacci projection.
Fundamentals: With the Russo-Ukraine conflict escalating to an all out war, prices of bonds will continue to increase as investors flock to safe haven asset. Technicals and fundamentals align, thus ZB1! may be a good opportunity to look into .
ZB1!
10 Year T-Note Futures (ZB1!) , H4 due for bearish dip Type : Bearish Dip
Resistance:154'10
Pivot:153'15
Support: 151'08
Preferred cases: Price is near pivot level of 153'15 in line with 38.2% Fibonacci retracement. Price can potentially dip to the take profit level of 151'08 in line with 127.2% Fibonacci projection and 78.6% Fibonacci retracement. Our bearish bias is supported by the stochastic indicator as it is near resistance level.
Alternative scenario: If price were to continue its rally, it can potentially rise to the 1st resistance level of 154'10 which is also our graphical swing high resistance.
Fundamentals : With the Russo-Ukraine conflict escalating to an all out war , prices of bonds will continue to increase as investors flock to safe haven assets. Technicals and fundamentals do not line up thus there is a risk on factor when looking into ZB1!
ZB1! H4 | Potential for bullish continuationPrice is near pivot level of 152'21 in line with 50% Fibonacci retracement. Price can potentially go to the 1st resistance of 154'09 which is also the graphical swing high level. Our bullish bias is supported by the ichimoku cloud indicator as price is trading above the clouds. Alternatively, Price can dip to the 1st support level of 151'15 in line with 78.6% Fibonacci retracement.
ZB1! H4 | Potential for bearish dip Type: Bearish continuation
Resistance : 153'30
Support : 151'07
Pivot : 1513'15
Preferred Case : Price is trading in a descending channel and near pivot level of 153'15 in line with 50% Fibonacci retracement and 127.2% Fibonacci projection. Price can potentially dip to the 1st support level of 151'07 in line with 78.6% Fibonacci retracement and 78.6% Fibonacci projection. Our bearish bias is supported by the ichimoku cloud indicator.
Alternative scenario : If prices continue to rally. Price can potentially dip to the 1st support level of 151'07 in line with 78.6% Fibonacci retracement and 78.6% Fibonacci projection.
Fundamentals: As russo-ukraine tensions continue to escalate. Bond prices will continue to increase as investors flock to safe haven assets. As fundamentals and technicals do not align, there is a risk factor when looking into ZB1!