US30USD H4 | Bullish bounce off 38.2% fibo?

TitleUS30USD H4 | Bullish bounce off 38.2% fibo?TypeBullish BouncePreference:Price is approaching our pivot point at 34693.12, which is an overlap support level, aligning with the 38.2% fibo retracement. If price bounces off the pivot point, then price could rise towards the 1st resistance at 35048.11, which is an overlap resistance level.Alternative scenario:If price breaks below the pivot point, then price could fall to the 1st support at 34479.77, which is placed slightly below the previous low, and at the 61.8% 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.