Corn FuturesLong
Corn ( ZC1!) , H4 Potential bullish continuation
Type : Bullish continuation
Resistance : 780'0
Pivot: 729'0
Support : 719'0
Preferred Case: With price moving the ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance at 780'0 in line with the horizontal swing resistance from our pivot of 729'0 in line with the 78.6% Fibonacci retracement and horizontal swing low support.
Alternative scenario: Alternatively, price may break our pivot structure and head for 1st support at 719'0 in line with the 50% Fibonacci retracement.
Fundamentals: No major news event.
Resistance : 780'0
Pivot: 729'0
Support : 719'0
Preferred Case: With price moving the ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance at 780'0 in line with the horizontal swing resistance from our pivot of 729'0 in line with the 78.6% Fibonacci retracement and horizontal swing low support.
Alternative scenario: Alternatively, price may break our pivot structure and head for 1st support at 719'0 in line with the 50% Fibonacci retracement.
Fundamentals: No major news event.
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