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SOYBEAN FUTURES (ZS1!), H4 Potential for Bullish Bounce!

34492 soybean futures zs1 h4 potential for bullish bounce

Type: Bullish BounceKey Levels:Resistance: 1751’4Pivot: 1639’6Support: 1581’4Preferred Case:With price moving above the Ichimoku cloud, we see the potential for a bounce from our Pivot at 1694’2 in line with 38.2% Fibonacci retracement towards our 1st resistance at 1757’4 in line with horizontal swing high resistance. Alternative Scenario:Alternatively, price can potentially dip towards our 1st support at 1646’4 which is a graphical swing low and also in line with 78.6% Fibonacci retracement.Fundamentals: No major news.

Source: Tickmill

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