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RBOB Gasoline Futures (RB1!), H1 Potential For Bearish Drop

42089 rbob gasoline futures rb1 h1 potential for bearish drop

Type: Bearish MomentumKey Levels:Resistance: 3.7128Pivot: 3.6479Support: 3.5419Preferred Case:On the H4, with price moving below the ichimoku cloud, we have a bearish bias that price will drop from the pivot at 3.6479 in line with the overlap resistance and 23.6% fibonacci retracement to the 1st support at 3.5419 where the swing low support is.Alternative Scenario:Alternatively, price may break pivot structure and rise to the 1st resistance at 3.7128 where the overlap resistance, 50% fibonacci retracement and 78.6% fibonacci projection are.Fundamentals:No major news

Source: Tickmill

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