Wheat Futures ( ZC1! ), H1 Potential For Bullish Bounce

wheat-futures-(-zc1!-),-h1-potential-for-bullish-bounce

Type: Bullish BounceKey Levels:Resistance: 1196’4Pivot: 1154’2Support: 1132’6Preferred Case:With price moving above our Ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance in line with the horizontal swing high resistance from our pivot of 1154’2 in line with the 38.2% Fibonacci retracement and and 78.6% Fibonacci project.Alternative Scenario:Alternatively, price may break pivot structure and head for 1st support in line with the pullback support.Fundamentals:No Major News

Source: Tickmill

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