Corn Futures ( ZC1! ), H4 Potential for Bullish Momentum
Title: Corn Futures ( ZC1! ), H4 Potential for Bullish Momentum
Type: Bullish Momentum
Resistance: 698.00
Pivot: 661.40
Support: 661.50
Preferred Case: Corn has been rising since September 28, 2022. The price is above the ichimoku cloud, adding to the bullish market bias. Price is currently consolidating along the 50% and 38.2% Fibonacci lines, which mark the first support level at 680.4. If the bullish momentum continues, price may move towards the first resistance level at 698.0, which contains two 100% Fibonacci lines.
Alternative scenario: Price may break through the first support and continue to fall towards 661.4, the pivot point and previous swing low.
Fundamentals: There are no major news.
Type: Bullish Momentum
Resistance: 698.00
Pivot: 661.40
Support: 661.50
Preferred Case: Corn has been rising since September 28, 2022. The price is above the ichimoku cloud, adding to the bullish market bias. Price is currently consolidating along the 50% and 38.2% Fibonacci lines, which mark the first support level at 680.4. If the bullish momentum continues, price may move towards the first resistance level at 698.0, which contains two 100% Fibonacci lines.
Alternative scenario: Price may break through the first support and continue to fall towards 661.4, the pivot point and previous swing low.
Fundamentals: There are no major news.
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.