US30USD H4 | Bearish reaction off 50% fibo?

TitleUS30USD H4 | Bearish reaction off 50% fibo?TypeBearish ReversalPreference:Price is approaching our pivot point at 34695.5, which is a pullback resistance level, aligning with the 50% fibo retracement. If price closes below this pivot point, then we can expect price to fall to the 1st support at 34274.4, which is an overlap support level, aligning with the 78.6% fibo retracement.Alternative scenario:If price breaks above the pivot point, then price could rise towards the 1st resistance at 35048.5, which is an overlap resistance, and placed above the 61.8% fibo projection and 78.6% 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.