Type: Bearish DipKey Levels:Resistance: 34041Pivot: 33144Support: 32307Preferred Case:Price is at our pivot level of 33144 in line with the horizontal swing low support and 50% Fibonacci retracement. We are expecting a breakout at pivot and a potentially dip to our 1st support level of 32307 in line with 61.8% Fibonacci projection. Our bearish bias is supported by the Ichimoku cloud indicator.Alternative Scenario:Alternatively, price may head for our 1st resistance level of34041 in line with the horizontal overlap resistance and 78.6% Fibonacci projection.Fundamentals:With the ongoing Russia-Ukraine tension, we can expect to see bearishness in the US indices.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/dow-jones-ym1-h4-potential-for-bearish-dip"
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