Gasoline Futures (RB1!) H4 | Approaching Multi-swing-high Resistance
Gasoline Futures (RB1!) H4 | Approaching Multi-swing-high Resistance
Type:
Bearish Reversal
Key Levels:
Resistance: 2.060
Pivot: 2.021
Support: 1.982
Preferred Case:
Looking at the H4 chart, the price is rising towards a multi-swing-high resistance where it could potentially stall once again before reversing to fall lower towards the 1st Support at 1.982.
Alternative Scenario:
Price may break above the Pivot at 2.021 and rise towards the 1st Resistance at 2.060.
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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.