Title
BCOUSD H4 | Pulling back to support
Type
Bullish Bounce
Preference:
Price could approach the pivot point of 75.249 and potentially reverse from here, we could see momentum carry price up to its 1st resistance of 77.718.
Alternative scenario:
If price breaks below the pivot point, it could hit the 1st support of 73.595.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.