Soybean Futures ( ZS1! ), H1 Potential For Bearish Continuation

soybean-futures-(-zs1!-),-h1-potential-for-bearish-continuation

Type: Bearish ContinuationKey Levels:Resistance: 1622’6Pivot: 1611’2Support: 1581’0Preferred Case:With the ichimoku indicating some bearish momentum, we have a bearish bias that price will drop to our 1st support in line with the swing low support at 1581’0 from our pivot of 1611’2 in line with the 38.2%, 50% Fibonacci retracement and 78.6% Fibonacci projection.Alternative Scenario:Alternatively, price may break pivot structure and head for 1st resistance in line with the 50% Fibonacci retracement and 100% Fibonacci projection.Fundamentals:No Major News

Source: Tickmill

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