Corn ( ZC1!) , H4 Potential bullish continuation
Type : Bullish continuation
Resistance : 780'0
Pivot: 729'0
Support : 719'0
Preferred Case: With price moving the ichimoku cloud , we have a bullish bias that price will rise to our 1st resistance at 780'0 in line with the horizontal swing resistance from our pivot of 729'0 in line with the 78.6% Fibonacci retracement and horizontal swing low support.
Alternative scenario: Alternatively, price may break our pivot structure and head for 1st support at 719'0 in line with the 50% Fibonacci retracement .
Fundamentals: No major news event.
Resistance : 780'0
Pivot: 729'0
Support : 719'0
Preferred Case: With price moving the ichimoku cloud , we have a bullish bias that price will rise to our 1st resistance at 780'0 in line with the horizontal swing resistance from our pivot of 729'0 in line with the 78.6% Fibonacci retracement and horizontal swing low support.
Alternative scenario: Alternatively, price may break our pivot structure and head for 1st support at 719'0 in line with the 50% Fibonacci retracement .
Fundamentals: No major news event.
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.