BCOUSD H4 | Potential bearish reversal

TitleBCOUSD H4 | Potential bearish reversalTypeBearish ReversalPreference:Price is rising towards the pivot point of 84.671 which is a pullback resistance that aligns close to the 23.6% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 81.711 which is a pullback support that aligns close to the 127.2% Fibonacci extension level.Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance at 86.342 which is a pullback resistance that aligns close to the 78.6% 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.