Title: Corn Futures ( ZC1! ), H4 Potential for Bullish Momentum
Type: Bullish Momentum
Resistance: 698.00
Pivot: 661. 40
Support: 661.50
Preferred Case: Corn has been on a bullish trend since September 28, 2022. Price is above the ichimoku cloud , which denotes a bullish market, adding to this confluence. Price reversed course through the first support level at 680.4, which is marked by the 50% and 38.2% Fibonacci lines. Expect price to continue moving upwards approaching the first barrier at 698.0, which is where two of the 100% Fibonacci lines are situated, if this bullish momentum persists.
Alternative scenario: The first support, at 680.4, may be where corn reverses back down. Price may then continue to fall toward the pivot point and prior swing low at 661.4 from there.
Fundamentals: There are no major news.
Type: Bullish Momentum
Resistance: 698.00
Pivot: 661. 40
Support: 661.50
Preferred Case: Corn has been on a bullish trend since September 28, 2022. Price is above the ichimoku cloud , which denotes a bullish market, adding to this confluence. Price reversed course through the first support level at 680.4, which is marked by the 50% and 38.2% Fibonacci lines. Expect price to continue moving upwards approaching the first barrier at 698.0, which is where two of the 100% Fibonacci lines are situated, if this bullish momentum persists.
Alternative scenario: The first support, at 680.4, may be where corn reverses back down. Price may then continue to fall toward the pivot point and prior swing low at 661.4 from there.
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
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這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。