SPX500USD H4 | Bearish reversal off pivot?

TitleSPX500USD H4 | Bearish reversal off pivot?TypeBearish ReversalPreference:Price has broken previous highs, creating several break of structures. This could mean that price could potentially head towards our pivot point at 4541.8. We can expect a bearish reversal from our pivot point, which is an overlap resistance, 78.6% fibo retracement and 161.8% fibo extension. If there is a bearish reversal, then price could fall to the 1st support at 4501.7, which is a pullback support level.Alternative scenario:If price breaks above the pivot point, then price could rise towards the 1st resistance at 4581.5, which is an overlap resistance 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.