Corn ( ZC1!) , H4 Potential bullish continuation
Type : Bullish continuation
Resistance : 793'6
Pivot: 719'4
Support : 659'0
Preferred Case: On the H4 chart, price is near our pivot of 719'4 in line with horizontal overlap support and 50% Fibonacci retracement . Price can potentially rise to our 1st resistance level at 760'0 in line with the 161.8% Fibonacci extension . Our bullish bias is supported by how price is moving above the ichimoku cloud .
Alternative scenario: Alternatively, price may head to our 1st support at 659'0 in line with the horizontal swing low support.
Fundamentals: No major news event.
Resistance : 793'6
Pivot: 719'4
Support : 659'0
Preferred Case: On the H4 chart, price is near our pivot of 719'4 in line with horizontal overlap support and 50% Fibonacci retracement . Price can potentially rise to our 1st resistance level at 760'0 in line with the 161.8% Fibonacci extension . Our bullish bias is supported by how price is moving above the ichimoku cloud .
Alternative scenario: Alternatively, price may head to our 1st support at 659'0 in line with the horizontal swing low support.
Fundamentals: No major news event.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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