Soybean Futures ( ZS1! ), H4 Potential for Bearish Momentum

Type:
Bearish Momentum

Key Levels:
Resistance:
1433.75
Pivot:
1409.75
Support:
1391.75

Preferred Case:
We have a bearish bias on the H4 chart. In addition, price is below the Ichimoku cloud , indicating a bearish market. If the bearish momentum continues, price may continue to move towards the Pivot at 1409.75, where the 38.2% Fibonacci line is located.

Alternative Scenario:
Price may rise again to retest the resistance at 1433.75, where the 50% Fibonacci line is located.

Fundamentals:
There are no major news.

Source: Tickmill

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