Title

SPX500 H4 | Bearish Reversal

Type

Bearish Reversal

Preference:

Price is rising toward the pivot of 5460.4, a pullback resistance close to 23.6% Fibo retracement. A reverse from this level cold the price to fall to 1st support at 5337.37, an overlap support close to 61.8% Fibo retracement. 

Alternative Scenario:

If price breaks above the pivot, it could rise to 1st resistance at 5565.16, an overlap resistance close to 61.8% Fibo retracement.