Soybean Futures (ZS1!), H4 Potential for Bullish Rise
Type : Bullish rise
Resistance : 1581'4
Pivot: 1483'4
Support : 1377'2
Preferred Case: On the H4, with price moving along the ascending channel, we have a bullish bias that price will rise from the pivot at 1483'4, which is in line with the 38.2% fibonacci retracement to the 1st resistance at 1581'4 where the 61.8% fibonacci retracement is.
Alternative scenario: Alternatively, price could break pivot structure and drop to the 1st support at 1377'2 where the overlap support and 61.8% fibonacci retracement are.
Fundamentals: No Major News
Resistance : 1581'4
Pivot: 1483'4
Support : 1377'2
Preferred Case: On the H4, with price moving along the ascending channel, we have a bullish bias that price will rise from the pivot at 1483'4, which is in line with the 38.2% fibonacci retracement to the 1st resistance at 1581'4 where the 61.8% fibonacci retracement is.
Alternative scenario: Alternatively, price could break pivot structure and drop to the 1st support at 1377'2 where the overlap support and 61.8% fibonacci retracement are.
Fundamentals: No Major News
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