TitleBCOUSD H4 | Falling to 38.2% Fibo supportTypeBullish BouncePreference:Price is falling towards the pivot point of 89.732 which is a pullback support that aligns close to the 38.2% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 92.43 which is a pullback resistance level.Alternative scenario:If price breaks below the pivot point, it could hit the 1st support at 88.624 which is a pullback support that aligns close to the 50.0% 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.
