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HomeForexSoybean Futures ( ZS1! ), H4 Potential for Bearish Momentum

Soybean Futures ( ZS1! ), H4 Potential for Bearish Momentum

Type: Bearish MomentumKey Levels:Resistance:1484.50Pivot:1409.75Support:1431.50Preferred Case:On the H4 chart, we have a bearish bias. To add confluence to this, price is crossing under the Ichimoku cloud which indicates a bearish market. If this bearish momentum continues, expect price to possibly break the support line at 1431.50 where the 50% Fibonacci line is located before heading towards the Pivot at 1409.75, where the 38.2% Fibonacci line is.Alternative Scenario:Price may go back up to retest the resistance at 1484.50, where the previous swing high and 78.6% Fibonacci line is. Fundamentals:There are no major news.



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