TitleBCOUSD H4 | Bearish reversal from 38.2% Fibo resistanceTypeBearish ReversalPreference:Price has reversed from the pivot point of 83.451 which is a pullback resistance that aligns close to the 38.2% Fibonacci retracement level; we could see momentum carry price down to its 1st support at 81.723 which is a pullback support that aligns close to the 100.0% Fibonacci projection level.Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance at 84.707 which is a pullback resistance that aligns close to the 61.8% Fibonacci retracement 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.
