Type: Bearish ReversalKey Levels:Resistance: 4094.62Pivot: 3948.57Support: 3740.23Preferred Case:On the H4, with prices breaking out of the ascending trendline and moving below the ichimoku indicator, we have a bearish bias that price will drop to pivot at 3948.57 where the pullback resistance is. Once there is downside confirmation that price has broken pivot structure, we would expect bearish momentum to carry price to 1st support at 3740.23 where the swing low support is.Alternative Scenario:Alternatively, price could break pivot structure and rise to 1st resistance at 4094.62 where the pullback resistance is.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/spx500usd-h4-or-potential-bearish-drop"
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