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


Type: Bullish BounceKey Levels:Resistance: 1679Pivot: 1623Support: 1579Preferred Case:With price moving above the Ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance in line with the 1679 in line with the swing high resistance from our pivot of 1623 in line with the 38.2% Fibonacci retracement and the horizontal pullback support.Alternative Scenario:Alternatively, price may break pivot structure and head for 1st support at 1579 in line with the 161.8% Fibonacci extension and the horizontal swing low support.Fundamentals:No major news.

Source: Tickmill

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