US30USD H4 | Bearish reaction off overlap resistance?

TitleUS30USD H4 | Bearish reaction off overlap resistance?TypeBearish ReversalPreference:Price is approaching our pivot point at 34616.9, which is an overlap resistance. We can expect price to react bearishly, and to head to the 1st support at 34243.2, which is an overlap support, 61.8% fibo retracement and 61.8% fibo projection.Alternative scenario:If price breaks above the pivot point, then price could rise to the 1st resistance at 34870.2, which is a pullback resistance, and above the 50% fibo 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.