Title: Wheat Futures (ZW1!), H4 Bearish Dip
Type : Bearish Dip
Resistance : 1064'0
Pivot: 1031'6
Support : 982'2
Preferred Case: Prices are on bearish momentum and abiding by a descending trendline We see the potential for a dip from our Pivot at 1031'6 in line with 50% Fibonacci Retracement towards our 1st support at 982'0 in line with 100% Fibonacci Projection . Prices are trading below our ichimoku cloud resistance, further supporting our bearish bias.
Alternative scenario: Price might continue to climb towards the 1st resistance level of 1064'0 in line with 50% Fibonacci retracement and 61.8% Fibonacci Projection.
Fundamentals: No Major News
Type : Bearish Dip
Resistance : 1064'0
Pivot: 1031'6
Support : 982'2
Preferred Case: Prices are on bearish momentum and abiding by a descending trendline We see the potential for a dip from our Pivot at 1031'6 in line with 50% Fibonacci Retracement towards our 1st support at 982'0 in line with 100% Fibonacci Projection . Prices are trading below our ichimoku cloud resistance, further supporting our bearish bias.
Alternative scenario: Price might continue to climb towards the 1st resistance level of 1064'0 in line with 50% Fibonacci retracement and 61.8% Fibonacci Projection.
Fundamentals: No Major News
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.