Gasoline Futures (RB1!) H4 | Falling to Overlap Support
Type:
Bullish Bounce
Key Levels:
Resistance: 2.160
Pivot: 2.117
Support: 2.090
Preferred Case:
Looking at the H4 chart, the price is approaching an overlap support where it could stabilize before reversing to bounce higher. The bullish momentum could cause the price to rise towards the 1st Resistance at 2.160.
Alternative Scenario:
Price may break below the Pivot at 2.117 and fall towards the 1st Support at 2.090.
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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.