Soybean Futures ( ZS1! ), H1 Potential For Bullish Bounce

soybean-futures-(-zs1!-),-h1-potential-for-bullish-bounce

Type: Bullish BounceKey Levels:Resistance: 1695’0Pivot: 1672’6Support: 1663’2Preferred Case:With price moving above our Ichimoku cloud , we have a bullish bias that price will rise to our 1st resistance in line with the 61.8% Fibonacci projection from our pivot of 1672’6 in line with the horizontal swing low support.Alternative Scenario:Alternatively, price may break pivot structure and head for 1st support at 1663’2 in line with the horizontal overlap support and 23.6% Fibonacci retracement .Fundamentals:No Major News

Source: Tickmill

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