Title
XAUUSD H4 | Heading into Swing-High Resistance

Type
Bearish Reversal

Preference:
Price is rising towards the pivot point of 2,526.42 which is a swing-high resistance that aligns close to the all-time high and could potentially reverse from here; we could see momentum carry price down to its 1st support at 2,483.26 which is an overlap support level.

Alternative scenario:
If price breaks above the pivot point, it could hit the 1st resistance at 2,547.94 which is a resistance that aligns with the 127.2% Fibonacci extension level.

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