Title
BCOUSD, H4 | Potential bearish reversal
Type
Bearish Reversal
Preference:
Price could approach our pivot level of 80.514 and reverse from here, we could see momentum move price down to its 1st support of 76.972.
Alternative scenario:
If price breaks above the pivot level, it could hit the 1st resistance of 83.401.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.