SPX500USD H4 | Bearish reaction off 61.8% fibo?

TitleSPX500USD H4 | Bearish reaction off 61.8% fibo?TypeBearish ReversalPreference:Price could rise towards our pivot point at 4493, which is a pullback resistance level, aligning with the 61.8% fibo retracement and 61.8% fibo projection. We can expect price to react bearishly, and if it does, it could fall back to the 1st support at 4444.6, which is a multi-swing low support level.Alternative scenario:If price breaks above the pivot point, then price could rise towards the 1st resistance at 4521, which is a swing high resistance.To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.