Type:
Bearish Drop
Key Levels:
Resistance:
671.75
Pivot:
660.00
Support:
636.00
Preferred Case:
Looking at the H4 chart, my overall bias for ZC1! is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market. If this bearish momentum continues, expect price to possibly continue heading towards the support at 636.00, where the previous swing low is.
Alternative Scenario:
Price may head back up to retest the pivot at 660.00 where the 50% Fibonacci line is.
Fundamentals:
There are no major news.
Source: Tickmill
