Type : Bearish Momentum
Resistance : 1540'4
Pivot: 1494'0
Support : 1424'6
Preferred Case: On the H4, with price moving below the ichimoku cloud and within the descending channel , we have a bearish bias that price will rise and drop from the pivot at 1494'0 in line with the pullback resistance and 50% fibonacci retracement to the 1st support at 1424'6 where the swing low support and 61.8% fibonacci projection are.
Alternative scenario: Alternatively, price may break pivot structure and rise to the 1st resistance at 1540'4 where the swing high resistance and 78.6% fibonacci projection are.
Fundamentals: Since both countries, Russia and Ukraine, are major exporter of agriculture goods and their persistent war will lead to a shortage of agricultural goods and give us a bullish bias for soybean .
Resistance : 1540'4
Pivot: 1494'0
Support : 1424'6
Preferred Case: On the H4, with price moving below the ichimoku cloud and within the descending channel , we have a bearish bias that price will rise and drop from the pivot at 1494'0 in line with the pullback resistance and 50% fibonacci retracement to the 1st support at 1424'6 where the swing low support and 61.8% fibonacci projection are.
Alternative scenario: Alternatively, price may break pivot structure and rise to the 1st resistance at 1540'4 where the swing high resistance and 78.6% fibonacci projection are.
Fundamentals: Since both countries, Russia and Ukraine, are major exporter of agriculture goods and their persistent war will lead to a shortage of agricultural goods and give us a bullish bias for soybean .
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.