Soy beans Futures ( ZS1! ), H1 Potential for Bullish bounce
Type : Bullish Bounce
Resistance : 1734
Pivot: 1702
Support : 1687
Preferred Case: With price moving above our ichimoku cloud , we have a bullish bias that price will rise to our 1st resistance at 1734 in line with the 127.2% Fibonacci extension from our pivot of 1702 in line with the horizontal pullback support and 23.6% Fibonacci retracement .
Alternative scenario: Alternatively, price may break pivot structure and head for 1st support at 1687 in line with the horizontal overlap support and 50% Fibonacci retracement .
Fundamentals: No Major News
Resistance : 1734
Pivot: 1702
Support : 1687
Preferred Case: With price moving above our ichimoku cloud , we have a bullish bias that price will rise to our 1st resistance at 1734 in line with the 127.2% Fibonacci extension from our pivot of 1702 in line with the horizontal pullback support and 23.6% Fibonacci retracement .
Alternative scenario: Alternatively, price may break pivot structure and head for 1st support at 1687 in line with the horizontal overlap support and 50% Fibonacci retracement .
Fundamentals: No Major News
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results