Gasoline Futures (RB1!) D1 I Falling toward an Overlap Support
Type:
Bearish Reversal
Key Levels:
Resistance: 2.1897
Pivot: 2.0902
Support: 2.0084
Preferred Case:
Looking at the H4 chart, the price could fall toward the Pivot and potentially stabilize around this level before rising toward the 1st Support at 2.0084
Alternative Scenario:
Price may bounce off the Pivot at 2.0902 and rise toward the 1st Resistance at 2.1897
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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.