Soybean Futures (SI1!) H4 | Rising into Pullback Resistance
Type:
Bearish Reversal
Key Levels:
Resistance: 1026'4
Pivot: 998'6
Support: 949'4
Preferred Case:
Looking at the H4 chart, the price is rising toward a pullback resistance where it could potentially reverse to fall lower towards the 1st Support at 949'4.
Alternative Scenario:
Price may break above the Pivot at 998'6 and rise towards the 1st Resistance at 1026'4.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.