BCOUSD H4 | Bearish reversal off 38.2% Fibo resistance

TitleBCOUSD H4 | Bearish reversal off 38.2% Fibo resistanceTypeBearish ReversalPreference:Price is rising towards the pivot point of 88.744 which is a pullback resistance that aligns with the 38.2% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 85.624 which is a pullback support that aligns close to the 78.6% Fibonacci retracement level.Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance at 90.414 which is a pullback resistance that aligns close to the 50.0% Fibonacci retracement 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.