Corn Futures ( ZW1! ), H1 Potential for Bearish Continuation
Type : Bearish Continuation
Resistance : 783'4
Pivot: 778'0
Support : 767'2
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 78.6% Fibonacci retracement and horizontal pullback support from our pivot of 778'0 in line with the horizontal pullback support.
Alternative scenario: Alternatively, price may break pivot structure and head for 1st resistance in line with the pullback resistance.
Fundamentals: No Major News
Resistance : 783'4
Pivot: 778'0
Support : 767'2
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 78.6% Fibonacci retracement and horizontal pullback support from our pivot of 778'0 in line with the horizontal pullback support.
Alternative scenario: Alternatively, price may break pivot structure and head for 1st resistance in line with the pullback resistance.
Fundamentals: No Major News