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!
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!
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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