Tickmill

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

CBOT:ZS1!   Soybean Futures
Title: Soybean Futures ( ZS1! ), H4 Potential for Bearish Momentum
Type: Bearish Momentum
Resistance: 1465.00
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 50% Fibonacci line is located.

Alternative scenario: Price may rise again to retest the resistance at 1465.00, where the previous swing high is.

Fundamentals: There are no major news.

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