Potential Bearish Resistance

TitlePotential Bearish ResistanceTypeBearish ReversalPreference:Price could rise towards the pivot point of 79.679 which is a pullback resistance that aligns with the 78.6% Fibonacci retracement level and potentially reverse from here; we could see momentum carry price down to its 1st support at 76.452 which is a multi-swing-low support level.Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance at 81.258 which is a swing-high resistance level.To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.