BCOUSD H4 | Bearish reversal off overlap resistance

TitleBCOUSD H4 | Bearish reversal off overlap resistanceTypeBearish ReversalPreference:Price is rising towards the pivot point of 83.949 which is an overlap resistance that aligns close to the 38.2% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 77.128 which is a swing-low support level.Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance at 86.091 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.