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Corn Futures ( ZC1! ), H4 Potential for Bullish Rise

admin by admin
December 21, 2022
in Trading News



Type: Bullish RiseKey Levels:Resistance:673.75Pivot:651.25Support:638.25Preferred Case:Looking at the H4 chart, my overall bias for ZC1! is bullish due to the current price crossing above the Ichimoku cloud , indicating a possible shift to bullish market structure. If this bullish momentum continues, expect price to possibly head towards the resistance at 673.75, where the 50% Fibonacci line is.Alternative Scenario:Price may head back down to break the pivot at 651.25 where the previous swing low is before heading towards the support at 638.25, where the -27.2% Fibonacci expansion line and recent low are located.Fundamentals:There are no major news



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