Title

WTI H4 I Falling toward the support

Type

Bearish Reversal

Preference:

The price is rising toward the pivot level at 65.40, a pullback resistance that aligns with the 61.8% Fibonacci retracement.  A reversal off this level could lead the price to fall toward the 1st support at 61.54, an overlap support.

Alternative Scenario:

If price breaks above the pivot, it could rise toward the 1st resistance at 68.38, a pullback resistance that aligns with the 78.6% Fibonacci retracement.