Genesiv

Potential Bearish Continuation

Short
FOREXCOM:WTIUSD   Us Crude Oil CFD
On the H4, with price recently breaking the ascending trend channel and moving below the ichimoku cloud , we have a bearish bias that price will drop from the pivot at 11449.6 in line with the overlap resistance and 23.6% fibonacci retracement to the 1st support at 10545.4 in line with the overlap support and 61.8% fibonacci projection . Alternatively, price may reverse off the pivot and rise to the 1st resistance at 11928.0 in line with the pullback resistance and 78.6% fibonacci projection .
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