Title: Corn Futures ( ZC1! ), H4 Potential for Bearish Momentum
Type: Bearish Momentum
Resistance: 680.25
Pivot: 661.20
Support: 654.20
Preferred case: On the H4 chart, we have a bearish bias with price under the Ichimoku cloud which indicates a bearish market, adding confluence to our bias. Price is currently consolidating along the 1st resistance line at 680.25 where the 50% and 38.2% Fibonacci lines are located. Expecting price to continue bearish and head towards the pivot at 661.2 where the previous low, 100% Fibonacci line and 78.6% Fibonacci projection lines are located.
Alternative scenario: Price may go back up and close above the 1st resistance level and head towards the 2nd resistance line where the previous swing high is located.
Fundamentals: There are no major news.
Type: Bearish Momentum
Resistance: 680.25
Pivot: 661.20
Support: 654.20
Preferred case: On the H4 chart, we have a bearish bias with price under the Ichimoku cloud which indicates a bearish market, adding confluence to our bias. Price is currently consolidating along the 1st resistance line at 680.25 where the 50% and 38.2% Fibonacci lines are located. Expecting price to continue bearish and head towards the pivot at 661.2 where the previous low, 100% Fibonacci line and 78.6% Fibonacci projection lines are located.
Alternative scenario: Price may go back up and close above the 1st resistance level and head towards the 2nd resistance line where the previous swing high is located.
Fundamentals: There are 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
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.