Corn Futures ( ZC1! ), H4 Potential for Bearish Momentum
Title: Corn Futures ( ZC1! ), H4 Potential for Bearish Momentum
Type: Bearish Momentum
Resistance: 680.50
Pivot: 661.40
Support: 669.50
Preferred Case: Corn fell below the first resistance level at 680.50, where the 50% and 38.2% Fibonacci lines are placed. If the bearish trend continues, price could reach the first support level at 669.4, which is nearby the 78.6% Fibonacci line.
Alternative scenario: Price may retrace back up to the first resistance level at 680.4.
Fundamentals: There are no major news.
Type: Bearish Momentum
Resistance: 680.50
Pivot: 661.40
Support: 669.50
Preferred Case: Corn fell below the first resistance level at 680.50, where the 50% and 38.2% Fibonacci lines are placed. If the bearish trend continues, price could reach the first support level at 669.4, which is nearby the 78.6% Fibonacci line.
Alternative scenario: Price may retrace back up to the first resistance level at 680.4.
Fundamentals: There are no major news.