US30USD H4 | Bearish reaction off 78.6% fibo?

TitleUS30USD H4 | Bearish reaction off 78.6% fibo?TypeBearish ReversalPreference:Price is rising towards our pivot point at 33887.8, which is an overlap resistance level, aligning with the 78.6% fibo projection and slightly above the 78.6% fibo retracement. We could see price react bearishly from here, to fall to the 1st support at 33521, which is a swing low support level.Alternative scenario:If price breaks above the pivot, price could head towards the 1st resistance at 34074.3, which is an overlap resistance, aligning with the 50% 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.