Type: Bearish MomentumKey Levels:Resistance: 4303.25 Pivot: 4159.25Support: 3888.25Preferred Case:On the h4, with price moving into a bearish pressure area on the MACD indicator and moving in a descending trendline, we have a bearish bias that price will drop from the pivot at 4159.25 to the 1st support at 3888.25 in line with the 78.6% fibonacci retracement at the swing low.Alternative Scenario:Alternatively, price may reverse off the pivot to the 1st resistance at 4303.25 at the swing high in line with the 61.8% fibonacci retracement.Fundamentals:No major news
Source: Tickmill
