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

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

Type: Bearish ContinuationKey Levels:Resistance: 783’4Pivot: 778’0Support: 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 778’0 in line with the horizontal pullback support.Alternative Scenario:Alternatively, price may break pivot structure and head for 1st resistance in line with the pullback resistance.Fundamentals:No Major News

Source: Tickmill

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