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ZS1! (Soybean) , H4 Awaiting Bullish Confirmation

33805 zs1 soybean h4 awaiting bullish confirmation

Type: Bullish ContinuationKey Levels:Resistance: 1755’2 Pivot: 1632’4Support: 1578’2Preferred 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

Source: Tickmill

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