SOYBEAN FUTURES (ZS1!), H4 Potential for Bullish Bounce!
Type : Bullish bounce
Resistance : 1751'4
Pivot: 1639'6
Support :1581'4
Preferred case: With price moving above the ichimoku cloud , we see the potential for a bounce from our Pivot at 1694'2 in line with 38.2% Fibonacci retracement towards our 1st resistance at 1757'4 in line with horizontal swing high resistance.
Alternative scenario: Alternatively, price can potentially dip towards our 1st support at 1646'4 which is a graphical swing low and also in line with 78.6% Fibonacci retracement .
Fundamentals: No major news.
Resistance : 1751'4
Pivot: 1639'6
Support :1581'4
Preferred case: With price moving above the ichimoku cloud , we see the potential for a bounce from our Pivot at 1694'2 in line with 38.2% Fibonacci retracement towards our 1st resistance at 1757'4 in line with horizontal swing high resistance.
Alternative scenario: Alternatively, price can potentially dip towards our 1st support at 1646'4 which is a graphical swing low and also in line with 78.6% 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