Potential Bearish Resistance | Tickmill


Title
Potential Bearish Resistance

Type
Bearish Reversal

Preference:
Price could rise towards the pivot point of 79.679 which is a pullback resistance that aligns with the 78.6% Fibonacci retracement level and potentially reverse from here; we could see momentum carry price down to its 1st support at 76.452 which is a multi-swing-low support level.

Alternative scenario:

If price breaks above the pivot point, it could hit the 1st resistance at 81.258 which is a swing-high resistance level.

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