Corn Futures (ZC1!) H4 | Falling to Overlap Support
Type:
Bullish Bounce
Key Levels:
Resistance: 496’0
Pivot: 478’6
Support: 470’2
Preferred Case:
Looking at the H4 chart, the price is falling toward an overlap support where it could stabilize before making a bullish bounce to rise towards the 1st Resistance at 496’0.
Alternative Scenario:
Price may break below the Pivot at 478’6 and fall towards the 1st Support at 470’2.
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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.