US30USD H4 | Bullish bounce off 78.6% fibo?

TitleUS30USD H4 | Bullish bounce off 78.6% fibo?TypeBullish BouncePreference:Price has reacted to the 78.6% fibo retracement, and the ascending trendline as well. Our pivot point is at 34258.43, which is slightly above the 78.6% fibo retracement, and it is an overlap support level. We can expect price to rise towards the 1st resistance level at 35025.16, which is a pullback resistance level, and at the 61.8% fibo retracement.Alternative scenario:If price breaks below the pivot point, and breaks the ascending trendline, then price could head towards the 1st support at 33608.22, which is a multi-swing low support 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.