Corn Futures ( ZC1! ), H1 Potential for Bearish Continuation
Type : Bearish Continuation
Resistance : 791'0
Pivot: 784'6
Support : 769'4
Preferred Case: With price expected to reverse off the ichimoku resistance, we have a bearish bias that price will drop to our 1st support in line with the horizontal swing low support from our pivot of 784'6 in line with the horizontal swing high support and 38.2% Fibonacci retracement .
Alternative scenario: Alternatively, price may break pivot structure and head for 1st resistance in line with the overlap resistance and 50% Fibonacci retracement .
Fundamentals: No Major News
Resistance : 791'0
Pivot: 784'6
Support : 769'4
Preferred Case: With price expected to reverse off the ichimoku resistance, we have a bearish bias that price will drop to our 1st support in line with the horizontal swing low support from our pivot of 784'6 in line with the horizontal swing high support and 38.2% Fibonacci retracement .
Alternative scenario: Alternatively, price may break pivot structure and head for 1st resistance in line with the overlap resistance and 50% Fibonacci retracement .
Fundamentals: 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