Type: Bearish MomentumKey Levels:Resistance:745.500Pivot:613.250Support:665.000Preferred Case:On the H4 chart, we have a bearish bias. To add confluence to this, price is under the Ichimoku cloud which indicates a bearish market. If this bearish momentum continues, expect price to head back down the the support level at 665.000, where the 78.6% Fibonacci line is.Alternative Scenario:Price may go back up and head towards the resistance at 745.500 where the 38.2% Fibonacci line is located. Fundamentals:There are no major news.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/oats-futures-zok2022-h4-potential-for-bearish-momentum6"
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