BCOUSD H4 | Bullish bounce off 50% Fibo?

TitleBCOUSD H4 | Bullish bounce off 50% Fibo?TypeBullish BouncePreference:Price has bounced off the pivot point of 85.859 which is an overlap support that aligns with the 50.0% Fibonacci retracement level and could potentially climb higher; we could see momentum carry price up to its 1st resistance at 88.179 which is a swing-high resistance.Alternative scenario:If price breaks below the pivot point, it could hit the 1st support at 83.902 which is a pullback support that aligns close to the 23.6% Fibonacci retracement level.To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.