Title
SPX500USD H4 | Bullish bounce off 50% fibo?

Type
Bullish Bounce

Preference:
Price could bounce off from our pivot point at 4460.15, which is an overlap support level, aligning with the 50% fibo retracement. If price bounces off the pivot point, then price could potentially rise towards the 1st resistance at 4494.9, which is a swing high resistance and at the 61.8% fibo retracement.

Alternative scenario:
If price breaks below the pivot point, then price could fall to the 1st support at 4430.04, which is an overlap support level and at the 61.8% fibo retracement level.

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