Type: Bearish MomentumKey Levels:Resistance: 36773.8Pivot: 36066.95Support: 33255.7Preferred Case:On the H4, with price moving in a descending trendline and entering a bearish pressure area on the MACD indicator, we have a bearish bias that price will continue to drop from the pivot at 36066.95 in line with the 50% fibonacci retracement and multiple swing high to the 1st support at 33255.7 in line with the 78.6% fibonacci projection and swing low.Alternative Scenario:Alternatively, price may reverse and rise from the pivot to the 1st resistance at 36773.8 to the swing high in line with the 61.8% Fibonacci retracementFundamentals:No major news
Source: Tickmill
