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.