US30USD H4 | Bearish reaction off 23.6% Fibo?

TitleUS30USD H4 | Bearish reaction off 23.6% Fibo?TypeBearish ReversalPreference:Price has reached our pivot point at 34557.89, which is an overlap resistance level, and at the 23.6% fibo retracement. If price closes below our pivot point on the H4 timeframe, then price could fall to our 1st support at 34236.71, which is a swing low support level.Alternative scenario:If price breaks above the pivot point, then price could rise towards the 1st resistance at 34886.64, which is a pullback resistance level, and at the 50% 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.