Title

GER40 I Bearish Reversal

Type

Bearish Reversal

Preference:

The price is moving towards the pivot level of 19,323.1, which serves as a pullback resistance near the 50% Fibonacci retracement. A reversal at this level could cause the price to drop to the 1st support at 19,050.8, a pullback support close to the 50% Fibonacci retracement.

Alternative Scenario:

If the price breaks above the pivot, it may rise to the 1st resistance level at 19,503.8, which acts as a swing-high resistance.