Title
BCOUSD H4 | Bearish reversal
Type
Bearish Drop
Preference:
Price is currently at the pivot point of 86.57, an overlap resistance. A drop from this level could lead the price to fall to 1st support at 85.35, a multi-swing low
Alternative scenario:
If the price breaks above the pivot, it could rise to 1st resistance at 87.72, a swing-high 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.