Title
DE30EUR H4 | Potential Bearish Breakout
Type
Bearish Breakout
Preference:
Price could fall towards the pivot point of 18,443.29 which is a potential breakout level and could drop lower from here; we could see momentum carry price down to its 1st support at 18,266.10 which is a swing-low support level.
Alternative scenario:
If price reverses from the pivot point, it could hit the 1st resistance at 18,599.35 which is a pullback resistance level.
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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.