Potential Bearish Reversal | Tickmill


Potential Bearish Reversal

Bearish Reversal

Price is rising towards the pivot point of 17,041.06 which is a pullback resistance level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 16,822.55 which is a pullback support that aligns close to the 38.2% Fibonacci retracement level.

Alternative scenario:

If price breaks above the pivot point, it could hit the 1st resistance at 17,079.26 which is a pullback resistance level.

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