Title
WTI H4 | Heading into a Pullback Resistance
Type
Bearish Reversal
Preference:
The price could rise towards the pivot level of 70.52. A reversal off this level could cause the price to fall to the 1st supprot at 67.62, a swing-low support.
Alternative Scenario:
If the price breaks above the pivot, it may rise to the 1st resistance at 72.63, a pullback resistance.
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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.