Title : ZS1! (Soybean) , H4 awaiting bullish confirmation
Type : Bullish continuation
Resistance : 1755'2
Pivot : 1632'4
Support : 1578'2
Preferred case: On the H4 , price is near pivot level of 1632'4 in line with 61.8% Fibonacci retracement and 161.8% Fibonacci projection. Price can potentially go to the swing high support of 1755'2 in line with 78.6% Fibonacci projection. Our bullish bias is supported by the ichimoku cloud indicator
Alternative scenario: Alternatively, price may dip to the 1st support level of 157982 in line with 78.6% Fibonacci retracement.
Fundamentals : No major news event
Type : Bullish continuation
Resistance : 1755'2
Pivot : 1632'4
Support : 1578'2
Preferred case: On the H4 , price is near pivot level of 1632'4 in line with 61.8% Fibonacci retracement and 161.8% Fibonacci projection. Price can potentially go to the swing high support of 1755'2 in line with 78.6% Fibonacci projection. Our bullish bias is supported by the ichimoku cloud indicator
Alternative scenario: Alternatively, price may dip to the 1st support level of 157982 in line with 78.6% Fibonacci retracement.
Fundamentals : No major news event