Title: Corn Futures ( ZC1! ), H4 Potential for Bearish Momentum
Type: Bearish Momentum
Resistance: 691.0
Pivot: 661.40
Support: 675.60
Preferred Case: The H4 price is in a downward trend. Price breached and closed below the first resistance level at 691.00. Price could potentially reverse back down to the pivot line and 20% retracement level at 661.40.
Alternative scenario: If the bullish momentum continues, price will move to 688.0, where the 23.6% Fibonacci line is located.
Fundamentals: There are no major news.
Type: Bearish Momentum
Resistance: 691.0
Pivot: 661.40
Support: 675.60
Preferred Case: The H4 price is in a downward trend. Price breached and closed below the first resistance level at 691.00. Price could potentially reverse back down to the pivot line and 20% retracement level at 661.40.
Alternative scenario: If the bullish momentum continues, price will move to 688.0, where the 23.6% Fibonacci line is located.
Fundamentals: There are no major news.
Penafian
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Penafian
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.