Soybean Futures ( ZS1! ), H4 Potential for Bullish Continuation
Title: Soybean Futures ( ZS1! ), H4 Potential for Bullish Continuation
Type: Bullish Continuation
Resistance: 1535.00
Pivot: 1492.25
Support: 1457.75
Preferred case: Looking at the H4 chart, my overall bias for ZS1! is bullish due to the current price crossing above the Ichimoku cloud , indicating a bullish market. If this bullish momentum continues, expect price to possibly continue heading towards the resistance at 1535.00, where the recent high is
Alternative scenario: Price may head back down to break the pivot at 1492.25, where the 38.2% Fibonacci line is before heading towards the support at 1457.75, where the 61.8% Fibonacci line is.
Fundamentals: There are no major news.
Type: Bullish Continuation
Resistance: 1535.00
Pivot: 1492.25
Support: 1457.75
Preferred case: Looking at the H4 chart, my overall bias for ZS1! is bullish due to the current price crossing above the Ichimoku cloud , indicating a bullish market. If this bullish momentum continues, expect price to possibly continue heading towards the resistance at 1535.00, where the recent high is
Alternative scenario: Price may head back down to break the pivot at 1492.25, where the 38.2% Fibonacci line is before heading towards the support at 1457.75, where the 61.8% Fibonacci line is.
Fundamentals: There are 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