US30USD H4 | Bullish bounce off 61.8% Fibo?

TitleUS30USD H4 | Bullish bounce off 61.8% Fibo?TypeBullish Bounce Preference:Price is approaching our pivot point at 34545.6, which is an overlap support level, aligning with the 61.8% fibo projection and slightly below the 61.8% fibo retracement. If price bounces off the pivot point, then price could head towards the 1st resistance level at 34733, which is a pullback resistance, possibly forming a right shoulder of the head and shoulders pattern.Alternative scenario:If price breaks below the pivot point, then price could fall to the 1st support level at 34397.4, which is a swing low support level, aligning with the 78.6% fibo retracement.To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.