Title
SPX500USD H4 | Bearish reversal off pivot?
Type
Bearish Reversal
Preference:
Price could potentially reacts bearishly off the pivot point at 4520.8, which is a multi-swing high resistance level. Price could fall to the 1st support at 4466.3, which is a pullback support level.
Alternative scenario:
If price breaks above the pivot point, then price could rise towards the 1st resistance at 4547.1, which is a swing high 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.