Soy beans Futures ( ZS1! ), H1 Potential for Bullish boun for CBOT:ZS1! by Tickmill

Type : Bullish Bounce
Resistance : 1702’6
Pivot: 1684’0
Support : 1661’4
Preferred Case: With price being above our ichimoku cloud , we have a bullish bias that price will rise to our 1st resistance at 1702’6 in line with the swing high resistance and 61.8% Fibonacci projection from our pivot of 1684’0 in line with the horizontal overlap support and 23.6% Fibonacci retracement .

Alternative scenario: Alternatively, price may break pivot structure and head for 1st support at 1661’4 in line with the horizontal overlap support, 38.2% fibonacci retracement and 61.8% Fibonacci projection .

Fundamentals: No Major News

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