Corn Futures ( ZC1! ), H4 Potential for Bullish Rise
Title: Corn Futures ( ZC1! ), H4 Potential for Bullish Rise
Type: Bullish Rise
Resistance: 706.50
Pivot: 688.75
Support: 661.25
Preferred case: Looking at the H4 chart, my overall bias for ZC1! is bullish due to the current price being above the Ichimoku cloud , indicating a bullish market. If this bullish momentum continues, expect price to possibly head towards the resistance at 706.50, where the previous swing high is.
Alternative scenario: Price may head back down to retest the support at 661.25 where the 61.8% Fibonacci line and recent low are located.
Fundamentals: There are no major news.
Type: Bullish Rise
Resistance: 706.50
Pivot: 688.75
Support: 661.25
Preferred case: Looking at the H4 chart, my overall bias for ZC1! is bullish due to the current price being above the Ichimoku cloud , indicating a bullish market. If this bullish momentum continues, expect price to possibly head towards the resistance at 706.50, where the previous swing high is.
Alternative scenario: Price may head back down to retest the support at 661.25 where the 61.8% Fibonacci line and recent low are located.
Fundamentals: There are no major news.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results