Type: Bullish BreakoutKey Levels:Resistance: 1652.38Pivot: 1565.69Support: 1493.93Preferred Case:On the H4, with price recently breaking out of the descending trendline, we have a bullish bias that price will continue to rise from the pivot at 1565.69 at the pullback support in line with the 38.2% fibonacci retracement to the 1st resistance at 1652.38 at the swing high in line with the 61.8% fibonacci retracement.Alternative Scenario:Alternatively, price may reverse off the pivot and drop to the 1st support at 1493.93 at the pullback support.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/soybean-h4-or-potential-bullish-continuation"
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