Type:
Bullish Rise
Key Levels:
Resistance: 10.695
Pivot: 10.005
Support: 9.050
Preferred Case:
On the H4, with the price moving within the ascending trendline and above the ichimoku cloud , we have a bullish bias that the price may rise from the pivot at 10.005, which is in line with the 61.8% fibonacci projection to the 1st resistance at 10.695, where the 78.6% fibonacci projection is.
Alternative Scenario:
Alternatively, price could drop to the 1st support at 9.050, where the 38.2% fibonacci retracement is.
Fundamentals:
Gazprom , Russia’s state-backed gas monopoly said on last Friday that it was planning maintenance on the Nord Stream 1 pipeline to Germany early next month, which further impact the supply of gas
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.