Soybean futures (ZS1!), H4 Potential for Bearish Drop!


Type: Bearish Drop Key Levels:Resistance:1759’2 Pivot: 1728’4 Support : 1637’4 Preferred case: With price expected to reverse off the stochastics resistance , we have a bearish bias that price will drop to our 1st support at 1637’4 in line with the horizontal swing low support and 100% Fibonacci projection from our pivot at 1728’4 in line with the 61.8% Fibonacci retracement. Alternative scenario: Alternatively, price may break our pivot structure and head for 1st resistance at 1759’2 in line with the horizontal swing high resistance and 127% Fibonacci extension


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