Tickmill

Corn Futures ( ZC1! ), H4 Potential for Bearish Momentum

CBOT:ZC1!   Corn Futures
Title: Corn Futures ( ZC1! ), H4 Potential for Bearish Momentum
Type: Bearish Momentum
Resistance: 675.00
Pivot: 661.50
Support: 654.75

Preferred case: Looking at the H4 chart, my overall bias for ZC1! is bearish due to the current price crossing below the Ichimoku cloud , indicating a bearish market. If this bearish momentum continues, expect price to head towards the pivot at 661.50 where the 20% Fibonacci line is located.

Alternative scenario: Price may go back up and head towards the resistance at 675.00, where the 50% Fibonacci line is located.

Fundamentals: There are no major news.

This analysis is provided as general market commentary and does not constitute investment advice.
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