Type : Bullish Rise
Resistance : 1508'4
Pivot: 1438'6
Support : 1400'4
Preferred Case: On the H4, with prices moving above the ichimoku indicator and broken out of the descending trendline , we have a bullish bias that price will rise from the pivot at 1438'6 where the pullback support and 23.6% fibonacci retracement are to the 1st resistance at 1508'4 where the swing high resistance is.
Alternative scenario: Alternatively, price could break pivot structure and drop to the 1st support at 1400'4 where the pullback support, 38.2% fibonacci retracement and 78.6% fibonacci projection are.
Fundamentals: Since Russia and Ukraine are major exporter of agriculture goods, their persistent war will lead to a shortage of agricultural goods and give us a bullish bias for soybean .
Resistance : 1508'4
Pivot: 1438'6
Support : 1400'4
Preferred Case: On the H4, with prices moving above the ichimoku indicator and broken out of the descending trendline , we have a bullish bias that price will rise from the pivot at 1438'6 where the pullback support and 23.6% fibonacci retracement are to the 1st resistance at 1508'4 where the swing high resistance is.
Alternative scenario: Alternatively, price could break pivot structure and drop to the 1st support at 1400'4 where the pullback support, 38.2% fibonacci retracement and 78.6% fibonacci projection are.
Fundamentals: Since Russia and Ukraine are major exporter of agriculture goods, their persistent war will lead to a shortage of agricultural goods and give us a bullish bias for soybean .
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.