Potential bearish reaction off pullback resistance

TitlePotential bearish reaction off pullback resistanceTypeBearish ReversalPreference:Price is rising towards the pivot point of 77.855 which is a pullback resistance that aligns close to the 23.6% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 72.067 which is a multi-swing-low support level.Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance at 80.185 which is a pullback resistance that aligns close to the 38.2% Fibonacci retracement level.To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.