SPX500USD H4 | Bearish reaction off 38.2% fibo?

TitleSPX500USD H4 | Bearish reaction off 38.2% fibo?TypeBearish ReversalPreference:Price has previously bounced off a pullback support and is rising towards the pivot point at 4475.9, which is a pullback resistance level and at the 38.2% fibo retracement. If price closes below the pivot point, then price could fall to the 1st support at 4425.4, which is an overlap support level and it aligns with the 61.8% fibo retracement.Alternative scenario:If price breaks above the pivot point, then price could head towards the 1st resistance at 4504.8, which is a pullback resistance level and at the 61.8% 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.