Type: Bearish BreakoutKey Levels:Resistance: 1755.12Pivot: 1691.08 Support: 1633.13Preferred Case:On the H4, with price showing bearish pressure on the MACD indicator and price recently breaking the ascending trend channel, we have a bearish bias that price will drop from our pivot at 1691.08 in line with the 38.2% fibonacci retracement to our 1st overlap support at 1633.13 in line with the 78.6% fibonacci projection .Alternative Scenario:Alternatively, price may reverse off the pivot and rise to the 1st resistance at 1755.12 in line with the swing high.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/soybean-h4-or-potential-bearish-momentum"
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