Title
GER 40 H4 | Potential bearish breakout
Type
Bearish Breakout
Preference:
Price could break out of the pivot line at 16735.14, an overlap support, and revert to the 1st support level at 16450.45, also an overlap support.
Alternative scenario:
The price could bounce off the pivot line at 16735.14, and rise to the 1st resistance at 16960.36, the swing-high resistance.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.