Title:
S&P500 H4 Breaking through 1st Resistance?
Type
Bullish Bounce
Preference:
The current price is between the pivot line, at 4535.74, which is overlap support, and the 1st resistance at 4568.86, a pullback resistance. Price could bounce off the pivot and reach the 1st resistance.
Alternative scenario:
The current price will break through the pivot and fall to the 1st support level, at 4465.32 which is a pullback support.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.