Type: Bearish BreakoutKey Levels:Resistance: 94.39Pivot: 92.55Support: 85.13Preferred Case:Prices are approaching a pivot. We see the potential for a dip from our Pivot at 92.55 which is an area of Fibonacci confluences towards our 1st support at 85.13 in line with 23.6% Fibonacci retracement. RSI is at levels where dips previously occurred.Alternative Scenario:Alternatively, prices may climb towards our 1st resistance at 94.39.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/oil-futures-h4-or-potential-for-pullback"
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