Potential Bullish Bounce | Tickmill

Potential Bullish Bounce

Bullish Bounce

Price is falling towards the pivot point of 77.303 which is a pullback support level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 79.662 which is a pullback resistance that aligns close to the 78.6% Fibonacci retracement level.

Alternative scenario:
If price breaks below the pivot point, it could hit the 1st support at 76.292 which is a pullback support that aligns with the 78.6% Fibonacci retracement level.

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