Soybean Oil Futures (ZL1!), H1 Potential for Bearish Continuation

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Kind: Bearish ContinuationKey Ranges:Resistance: 83’30Pivot: 82’45Support: 79’93Preferred Case:With worth anticipated to reverse off the resistance of the ichimoku cloud, we see a possible bearish continuation from our pivot degree of 82’45 which is in keeping with 38.2% Fibonacci retracement and horizontal pullback resistance in direction of our 1st assist degree of 79’93 which is in keeping with the horizontal swing low assist and 78.6% Fibonacci retracement.Various State of affairs:Alternatively, worth might break our pivot construction and head for 1st resistance degree of 83’30 in keeping with 50% Fibonacci retracement and horizontal swing excessive resistance.Fundamentals: No main information.

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