CORN, H4 | Potential Bearish Continuation


Type: Bearish ReversalKey Levels:Resistance: 782.99Pivot: 758.12Support: 714.03Preferred Case:On the H4, with price moving below the ichimoku cloud, we have a bearish bias that price will continue to drop from the pivot at 758.12 in line with the pullback resistance and 50% fibonacci retracement to the 1st support at 714.03 in line with the 100% fibonacci projection and horizontal swing low.Alternative Scenario:Alternatively, price may reverse off the pivot and rise to the 1st resistance at 782.99 in line with the 61.8% fibonacci retracement and overlap resistance.

Source: Tickmill

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