Tickmill

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

CBOT:ZS1!   Soybean Futures
Title: Soybean Futures ( ZS1! ), H4 Potential for Bullish Momentum
Type: Bullish Momentum
Resistance: 1484.50
Pivot: 1409.75
Support: 1431.50

Preferred case: The current bias for ZS1! on the H4 chart is bullish . To add to this bias, the price is currently trading above the Ichimoku cloud , indicating a bullish market. If the bullish momentum continues, price may head towards the resistance at 1484.50, where the previous high and 78.6% Fibonacci line is located.

Alternative scenario: Price may retrace downwards and head towards the 1431.50 support level , 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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