DE30EUR H4 | Bearish reaction off 38.2% fibo?

TitleDE30EUR H4 | Bearish reaction off 38.2% fibo?TypeBearish ReversalPreference:Price is approaching our pivot point at 16018.62, which is a pullback resistance, as well as at the 38.2% fibo retracement and 78.6% fibo projection. This shows that there is fibo confluence here, and price could reject off our pivot point, and there is potential to fall to the 1st support at 1576.28, which is a swing low support.Alternative scenario:If price breaks above the pivot point, then price could rise to the 1st resistance at 16243.72, which is an overlap resistance, and slightly above the 61.8% fibo retracement.To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.