Corn Futures ( ZC1! ), H4 Potential for Bearish Continuation
Title: Corn Futures ( ZC1! ), H4 Potential for Bearish Continuation
Type: Bearish Continuation
Resistance: 673.75
Pivot: 632.00
Support: 586.00
Preferred case: Looking at the H4 chart, my overall bias for ZC1! is bearish due to the current price below the Ichimoku cloud , indicating a bearish market. If this bearish momentum continues, expect price to head towards the pivot at 586.00 where the 50% Fibonacci line is located.
Alternative scenario: Price may go back up and head towards the resistance at 673.75, where the 50% Fibonacci line is located.
Fundamentals: There are no major news.
Type: Bearish Continuation
Resistance: 673.75
Pivot: 632.00
Support: 586.00
Preferred case: Looking at the H4 chart, my overall bias for ZC1! is bearish due to the current price below the Ichimoku cloud , indicating a bearish market. If this bearish momentum continues, expect price to head towards the pivot at 586.00 where the 50% Fibonacci line is located.
Alternative scenario: Price may go back up and head towards the resistance at 673.75, where the 50% Fibonacci line is located.
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.