Type:
Bearish Drop

Key Levels:
Resistance:
673.75
Pivot:
651.25
Support:
638.25

Preferred Case:
Looking at the H4 chart, my overall bias for ZC1! is bearish due to the current price crossing below the Ichimoku cloud , indicating a bearish market. If this bearish momentum continues, expect price to continue heading towards the support at 638.25, where the -27.2% Fibonacci expansion line and recent low are located.

Alternative Scenario:
Price may head back up to retest the pivot at 651.25 where the previous swing low is.

Fundamentals:
There are no major news.