Soy beans Futures ( ZS1! ), H1 Potential for Bearish ContinuatioType : Bearish Continuation
Resistance : 1622'6
Pivot: 1611'2
Support : 1581'0
Preferred Case: With the ichimoku indicating some bearish momentum, we have a bearish bias that price will drop to our 1st support in line with the swing low support at 1581'0 from our pivot of 1611'2 in line with the 38.2%, 50% Fibonacci retracement and 78.6% Fibonacci projection.
Alternative scenario: Alternatively, price may break pivot structure and head for 1st resistance in line with the 50% Fibonacci retracement and 100% Fibonacci projection.
Fundamentals: No Major News