Corn Futures ( ZC1! ), H4 Potential for Bullish Rise
Title: Corn Futures ( ZC1! ), H4 Potential for Bullish Rise
Type: Bullish Rise
Resistance: 698.50
Pivot: 651.25
Support: 638.25
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 698.50, where the previous swing high is.
Alternative scenario: Price may head back down to retest the pivot at 651.25 where the 23.6% Fibonacci line and recent low are located.
Fundamentals: There are no major news.
Type: Bullish Rise
Resistance: 698.50
Pivot: 651.25
Support: 638.25
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 698.50, where the previous swing high is.
Alternative scenario: Price may head back down to retest the pivot at 651.25 where the 23.6% Fibonacci line and recent low are located.
Fundamentals: There are no major news.