Corn Futures ( ZC1! ), H1 Potential for Bullish bounce
Type : Bullish Bounce
Resistance : 801'6
Pivot: 791'4
Support : 783'0
Preferred Case: With price moving above our ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance in line with the horizontal pullback resistance from our pivot of 791'4 in line with the 38.2% Fibonacci retracement and horizontal pullback support area.
Alternative scenario: Alternatively, price may break pivot structure and head for 1st support in line with the pullback support.
Fundamentals: No Major News
Resistance : 801'6
Pivot: 791'4
Support : 783'0
Preferred Case: With price moving above our ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance in line with the horizontal pullback resistance from our pivot of 791'4 in line with the 38.2% Fibonacci retracement and horizontal pullback support area.
Alternative scenario: Alternatively, price may break pivot structure and head for 1st support in line with the pullback support.
Fundamentals: No Major News