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

39499 soybean futures zs1 h1 potential for bullish bounce

Type: Bullish BounceKey Levels:Resistance: 1679’2Pivot: 1662’2Support: 1650’2Preferred Case:With price bouncing off our Ichimoku cloud , we have a bullish bias that price will rise to our 1st resistance at 1679’2 in line with the swing high resistance from our pivot of 1662’2 in line with the horizontal overlap support and 61.8% Fibonacci retracement .Alternative Scenario:Alternatively, price may break pivot structure and head for 1st support at 1650’2 in line with the horizontal swing low support and 100% Fibonacci projection .Fundamentals:No Major News

Source: Tickmill

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