Corn Futures (ZC1!), H4 Potential for Bullish Rise
Title: Corn Futures ( ZC1! ), H4 Potential for Bullish Rise
Type: Bullish Rise
Resistance: 710.4
Pivot: 699.4
Support: 679.25
Preferred Case: On the H4, the price has bounced off the second support at 668.25 which is at the 78.6% Fibonacci retracement line, and went above the first support at 679.25. Price has also gone above the Ichimoku cloud which indicates a bullish bias. Looking for price to continue bullish to hit the first resistance at 710.4 where the -27.2% Fibonacci expansion lies.
Alternative scenario: Alternatively, the price could bounce back down from the pivot structure and drop to first support to 679.25, where the 50% Fibonacci retracement line sits
Fundamentals: No major news.
Type: Bullish Rise
Resistance: 710.4
Pivot: 699.4
Support: 679.25
Preferred Case: On the H4, the price has bounced off the second support at 668.25 which is at the 78.6% Fibonacci retracement line, and went above the first support at 679.25. Price has also gone above the Ichimoku cloud which indicates a bullish bias. Looking for price to continue bullish to hit the first resistance at 710.4 where the -27.2% Fibonacci expansion lies.
Alternative scenario: Alternatively, the price could bounce back down from the pivot structure and drop to first support to 679.25, where the 50% Fibonacci retracement line sits
Fundamentals: No major news.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.