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

37749 corn futures zc1 h1 potential for bearish momentum

Type: Bearish MomentumKey Levels:Resistance: 814’4Pivot: 807’4Support: 795’4Preferred Case:We see the potential for a bearish dip from our pivot level at 807’4 in line with 38.2% Fibonacci retracement towards our 1st support level at 795’4 in line with 50% Fibonacci retracement, 61.8% Fibonacci projection and -27.2% Fibonacci expansion.Alternative Scenario:Alternatively, price might break our pivot structure and head for 1st resistance level at 814’4 in line with 78.6% Fibonacci retracement.Fundamentals:No major news

Source: Tickmill

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