Corn Futures ( ZC1! ), H4 Potential for Bearish Momentum
Title: Corn Futures ( ZC1! ), H4 Potential for Bearish Momentum
Type: Bearish Momentum
Resistance: 675.00
Pivot: 661.50
Support: 654.75
Preferred case: Looking at the H4 chart, my overall bias for ZC1! is bearish due to the current price crossing below the Ichimoku cloud, indicating a bearish market. If this bearish momentum continues, expect price to head towards the pivot at 661.50 where the 20% Fibonacci line is located.
Alternative scenario: Price may go back up and head towards the resistance at 675.00, where the 50% Fibonacci line is located.
Fundamentals: There are no major news.
Type: Bearish Momentum
Resistance: 675.00
Pivot: 661.50
Support: 654.75
Preferred case: Looking at the H4 chart, my overall bias for ZC1! is bearish due to the current price crossing below the Ichimoku cloud, indicating a bearish market. If this bearish momentum continues, expect price to head towards the pivot at 661.50 where the 20% Fibonacci line is located.
Alternative scenario: Price may go back up and head towards the resistance at 675.00, where the 50% Fibonacci line is located.
Fundamentals: There are no major news.