Type: Bullish BounceKey Levels:Resistance: 4299.05Pivot: 4078.52Support: 3905.04Preferred Case:On the H4, with price moving above the ichimoku cloud, we have a bullish bias that price will rise from the pivot at 4078.52 in line with the 38.2% fibonacci retracement to the 1st resistance at 4299.05 at the overlap swing high.Alternative Scenario:Alternatively, price may break the support structure at the pivot and drop to the 1st support at 3905.04 in line with the 61.8% fibonacci projection.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/s-and-p500-h4-or-potential-bullish-continuation8"
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