BABA Potential for bullish momentum | 1st July 2022On the H4, with prices moving above the ichimoku indicator, we have a bullish bias that price will rise to buy entry at 120.88 where the swing high resistance and 78.6% fibonacci retracement are. Once there is upside confirmation, we would expect bullish momentum to carry price to take profit at 139.07 in line with overlap resistance and 100% fibonacci projection. Alternatively, price could drop to stop loss at 104.01 where the pullback support, 38.2% fibonacci retracement and 78.6% fibonacci projection are.
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