SPX500USD H4 | Bullish bounce off 38.2% fibo?

TitleSPX500USD H4 | Bullish bounce off 38.2% fibo?TypeBullish BouncePreference:Price is approaching our pivot point at 4530.4, which is a pullback support level, and it aligns with the 38.2% fibo retracement level. If price bounces off our pivot point, price would most likely head towards the 1st resistance at 4610.1, which is a swing high resistance.Alternative scenario:If price breaks below the pivot point, then price would fall to the 1st support at 4457.3, which aligns with the 61.8% fibo 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.