Title
SPX500USD H4 | Bullish bounce off 61.8% fibo?

Type
Bullish Bounce

Preference:

Price could potentially fall to our pivot point at 4334.5, which is an overlap support level, aligning with the 61.8% fibo retracement and 78.6% fibo projection. If price bounces off our pivot point, then price could rise towards the 1st resistance at 4397.6, which is a swing high resistance.

Alternative scenario:
If price breaks below the pivot point, then price could fall to the 1st support at 4277, which is an overlap support level, and at the 61.8% fibo retracement.

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