Soybean Futures (ZS1!), H1 Potential for Bearish Continuation

Type : Bearish Continuation
Resistance: 1662'6
Pivot: 1653'4
Support : 1626'2
Preferred case: With price moving below the ichimoku cloud, we see a potential bearish continuation from our pivot level of 1653'4 which is in line with 38.2% Fibonacci retracement and horizontal pullback resistance towards our 1st support level of 1626'2 which is in line with the horizontal swing low support.

Alternative scenario: Alternatively, price may break our pivot structure and head for 1st resistance level of 1662'6 in line with 50% Fibonacci retracement and horizontal pullback resistance.

Fundamentals: No major news.