Potential Bearish Reversal | Tickmill


Title
Potential Bearish Reversal

Type
Bearish Reversal

Preference:
Price is rising towards the pivot point of 0.61315 which is an overlap resistance that aligns with the 23.6% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 0.60166 which is a pullback support level.

Alternative scenario:
If price breaks above the pivot point, it could hit the 1st resistance at 0.61861 which is a pullback resistance that aligns close to the 38.2% Fibonacci retracement level.

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