ZB1! (10 Year T-bonds ) , H4 Bearish dropType: Bearish drop
Resistance: 159'22
Support: 151'22
Pivot: 156'00
Preferred case: With price moving below the ichimoku cloud , we have bearish bias that price will drop from our pivot of 156'00 in line with the 23.6% Fibonacci retracement to our 1st resistance of 159'22 in line with the horizontal swing low support.
Alternative Scenario : Alternatively, price may break pivot structure and head for 1st support at 151'22 in line with the 100% Fibonacci projection level.
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.