Title
SPX500USD H4 | Bearish reversal off pivot?
Type
Bearish Reversal
Preference:
Price has been in a strong bullish run in the past few weeks, and we could possibly see a reversal from our pivot point at 4384.7, which is a multi-swing high resistance level. If price reacts bearishly, then we could see price falling to the 1st support at 4324.3, which is a pullback support level.
Alternative scenario:
If price breaks above the pivot point, then price could rise towards the 1st resistance level at 4426.7, which is a pullback resistance level.
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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.