Soybeans Future (ZS1!), H1 Bullish rise
Type : Bullish rise
Resistance : 1623'2
Pivot: 1580'0
Support : 1546'4
Preferred case: With price expected to bounce off the stochastics indicator, we have a bullish bias that price will rise to our 1st resistance at 1623'2 in line with the 38.2% Fibonacci retracement and pullback resistance from our pivot of 1580'0 in line with the 161.8% Fibonacci extension and swing low support.
Alternative scenario: Alternatively, if price breaks our pivot structure, it may head for 1st support at 1546'4 in line with the swing low support.
Fundamentals: No major news.
Resistance : 1623'2
Pivot: 1580'0
Support : 1546'4
Preferred case: With price expected to bounce off the stochastics indicator, we have a bullish bias that price will rise to our 1st resistance at 1623'2 in line with the 38.2% Fibonacci retracement and pullback resistance from our pivot of 1580'0 in line with the 161.8% Fibonacci extension and swing low support.
Alternative scenario: Alternatively, if price breaks our pivot structure, it may head for 1st support at 1546'4 in line with the swing low support.
Fundamentals: No major news.
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