Title: Corn Futures ( ZC1! ), H4 Potential for Bullish Momentum
Type: Bullish Momentum
Resistance: 680.00
Pivot: 667.50
Support: 661.75
Preferred Case: On the H4, the overall price is bearish . In addition, the price is below the Ichimoku cloud , indicating a bear market. Price has broken through the Pivot at 667.4, which corresponds to the previous swing low. Price also rebounded from the first support and rose above the first pivot . Price may maintain its short-term bullish momentum and move towards the first resistance level at 680.0, where the 38.2% Fibonacci line is located.
Alternative scenario: The price could reverse and head back down to the first support level at 661.75, where the -27.2% Fibonacci expansion is located.
Fundamsentals: There is no major news.
Type: Bullish Momentum
Resistance: 680.00
Pivot: 667.50
Support: 661.75
Preferred Case: On the H4, the overall price is bearish . In addition, the price is below the Ichimoku cloud , indicating a bear market. Price has broken through the Pivot at 667.4, which corresponds to the previous swing low. Price also rebounded from the first support and rose above the first pivot . Price may maintain its short-term bullish momentum and move towards the first resistance level at 680.0, where the 38.2% Fibonacci line is located.
Alternative scenario: The price could reverse and head back down to the first support level at 661.75, where the -27.2% Fibonacci expansion is located.
Fundamsentals: There is 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
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.