Soybean Futures (ZS1!) H4 | Approaching Overlap Resistance
Type:
Bearish Reversal
Key Levels:
Resistance: 1024"2
Pivot: 1014"2
Support: 993"0
Preferred Case:
Looking at the H4 chart, the price is rising toward an overlap resistance where it could stall around this level before reversing to fall toward the 1st Support at 993"0.
Alternative Scenario:
Price may break above the Pivot at 1014"2 and rise towards the 1st Resistance at 1024"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.