GC1!, H4 | Potential for Pullback

Type: Bearish ReversalKey Levels:Resistance: 1837.7Pivot: 1826.6Support: 1809.5Preferred Case:Prices are at pivot. We see the potential for a dip from our Pivot at 1826.6 in line with 127.2% Fibonacci extension, 61.8% Fibonacci extension and 61.8% Fibonacci retracement towards our 1st support at 1809.5 in line with 38.2% Fibonacci retracement and graphical overlap. Our bearish bias is further supported by RSI being at levels where dips previously occurred.Alternative Scenario:Alternatively, prices may climb towards our 1st resistance at 1837.7 in line with 78.6% Fibonacci retracement and 78.6% Fibonacci extension.

Source: Tickmill

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