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

39852 soybean futures zs1 h1 potential for bullish bounce

Type: Bullish BounceKey Levels:Resistance: 1718’6Pivot: 1692’4Support: 1676’4Preferred Case:With MACD moving in a bullish momentum and prices breaking the Ichimoku cloud , we have a bullish bias that price will rise to our 1st resistance at1718’6 in line with the 61.8% Fibonacci projection and horizontal swing high resistance from our pivot of 1692’4 in line with the horizontal pullback support.Alternative Scenario:Alternatively, price may break pivot structure and head for 1st support at 1676’4 in line with the horizontal swing low support and 38.2% Fibonacci retracement .Fundamentals:No Major News

Source: Tickmill

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