Alternative scenario:
If price breaks below the pivot point, then price could fall to the 1st support at 4522.2, which is an overlap support level.
Title
SPX500USD H4 | Bullish bounce off pivot?
Price is consolidating now, and could potentially bounce off our pivot point at 4553.6, which is an overlap support level. If price bounces off our pivot point, price could rise towards the 1st resistance at 4604.5, which is a multi-swing high resistance level, slightly above the 100% fibo projection.
To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.
منبع: https://www.tickmill.com/blog/spx500usd-h4-bullish-bounce-off-pivot-24th-november-2023
Type
Bullish Bounce
