Potential for Bearish ContinuationPreferred Case: On the H4, with price moving in an ascending trendline on the RSI and price recently breaking the descending trendline, we have a bullish bias that price will rise from the pivot at 12616 at the pullback support at the swing low in line with the 78.6% fibonacci projection to the 1st resistance at 13373 at the overlap resistance in line with the 61.8% fibonacci projection and 23.6% fibonacci retracement.
Alternative scenario: Alternatively, price may reverse off the pivot and drop to the 1st support at the swing low at 12383 in line with the 61.8% fibonacci projection.
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