SOYBEAN FUTURES (ZS1!), H4 Potential for Bullish Bounce!
Type : Bullish bounce
Resistance : 1751'64
Pivot: 1638'6
Support : 1581'4
Preferred case: With price moving above the ichimoku cloud, we see the potential for a bounce from our Pivot at 1639'6 in line with 50% Fibonacci retracement towards our 1st resistance at 1751'4 in line with horizontal swing high resistance.
Alternative scenario: Alternatively, price can potentially dip towards our 1st support at 1581'4 which is a graphical swing low and also in line with 61.8% Fibonacci retracement.
Fundamentals: No major news.
Resistance : 1751'64
Pivot: 1638'6
Support : 1581'4
Preferred case: With price moving above the ichimoku cloud, we see the potential for a bounce from our Pivot at 1639'6 in line with 50% Fibonacci retracement towards our 1st resistance at 1751'4 in line with horizontal swing high resistance.
Alternative scenario: Alternatively, price can potentially dip towards our 1st support at 1581'4 which is a graphical swing low and also in line with 61.8% Fibonacci retracement.
Fundamentals: No major news.