Potential Bearish Resistance | Tickmill

Potential Bearish Resistance

Bearish Reversal

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.

To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.

Disclaimer: The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company.

Past performance is not indicative of future results.

High Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% and 73% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Source link

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top