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Corn ( ZC1!) , H4 Potential Bullish Continuation

34624 corn zc1 h4 potential bullish continuation

Type: Bullish ContinuationKey Levels:Resistance: 779’0Pivot: 718’6Support: 705’2Preferred Case:Price near pivot level of 718’6 in line with 50% Fibonacci retracement and 100% Fibonacci projection. Price can potentially go to the resistance level of 779’0 in line with the graphical swing high level. Our bullish bias is supported by the Ichimoku cloud indicator as price is trading above it. Alternative Scenario: Alternatively, price may dip to the support level of 705’2 in line with 127.2% Fibonacci projection and 61.8% Fibonacci retracementFundamentals:No major news event.

Source: Tickmill

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