Type: Bullish BounceKey Levels:Resistance: 135.56Pivot: 131.495Support: 129.56Preferred Case:On the H4, with price expected to bounce off stochastic indicator, we have a bullish bias that price will rise from our pivot at 131.495 where the horizontal swing low support, 78.6% fibonacci projection and 50% fibonacci retracement are to our 1st resistance at 135.56 in line with the swing high resistance and 61.8% fibonacci projection.Alternative Scenario:Alternatively, price may break pivot structure and head for 1st support at 129.56 where the horizontal overlap support and 61.8% fibonacci retracement are.
Source: Tickmill