Corn Futures (ZC1!), H1 Potential for Bullish rise!
Type: Bearish Dip
Resistance : 767'0
Pivot: 750'2
Support : 741'0
Preferred case: With price moving above the ichimoku cloud along with the recent trendline breakout, we have a bullish bias that price will rise to our 1st resistance in line with the 767'0 in line with he swing high resistance from our pivot of 750'2 in line with the 23.6% Fibonacci retracement and the horizontal pullback support.
Alternative scenario: Alternatively, price may break pivot structure and head for 1st support at 741'0 in line with he 61.8% Fibonacci retracement and the swing low support.
Fundamentals: No major news.
Resistance : 767'0
Pivot: 750'2
Support : 741'0
Preferred case: With price moving above the ichimoku cloud along with the recent trendline breakout, we have a bullish bias that price will rise to our 1st resistance in line with the 767'0 in line with he swing high resistance from our pivot of 750'2 in line with the 23.6% Fibonacci retracement and the horizontal pullback support.
Alternative scenario: Alternatively, price may break pivot structure and head for 1st support at 741'0 in line with he 61.8% Fibonacci retracement and the swing low support.
Fundamentals: No major news.