Corn Futures ( ZC1! ), H1 Potential For Bearish Continuation

corn-futures-(-zc1!-),-h1-potential-for-bearish-continuation

Type: Bearish ContinuationKey Levels:Resistance: 785’4Pivot: 777’0Support: 767’2Preferred Case:With the Ichimoku indicating some bearish momentum, we have a bearish bias that price will drop to our 1st support in line with the 78.6% Fibonacci retracement and horizontal pullback support from our pivot of 767’2 in line with the horizontal pullback support from our pivot of 777’0 in line with the 50% Fibonacci retracement and horizontal overlap resistance.Alternative Scenario:Alternatively, price may break pivot structure and head for 1st resistance in line with the overlap resistance and 38.2% Fibonacci retracement.Fundamentals:No Major News

Source: Tickmill

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