Title :ZB1! ( 10 Year T-bond) , H4 bullish continuation Title :ZB1! ( 10 Year T-bond) , H4 bullish continuation
Resistance: 159'26
Pivot: 155'19
Support: 154'11
Preferred case: Price is near pivot level of 155'19 in line with 50% Fibonacci retracement and can potentially go to the graphical swing high level of 159'26 in line with 100% Fibonacci projection. Our bullish bias is supported by the ichimoku cloud indicator.
Alternative scenario: Price dip to the support level of 154'11 in line with 1272% Fibonacci retracement and 61.8% Fibonacci projection.
Fundamentals: With the uncertainty of the RUSSO-UKRAINE conflict and the implications on the US economy due to increase increase sanctions. Bond prices will continue to increase as increase frequency of rate hikes seems more unlikely. As fundamentals and technicals align, ZB1! might be a good opportunity to look into.