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