Corn Futures (ZC1!) D1 | Falling towards Overlap Support
Type:
Bullish Bounce
Key Levels:
Resistance: 490’6
Pivot: 472’4
Support: 458’4
Preferred Case:
Looking at the D1 chart, the price could fall towards an overlap support and stabilize before making a bullish bounce to rise towards the 1st Resistance at 490’6.
Alternative Scenario:
Price may break below the Pivot at 472’4 to fall towards the 1st Support at 458’4.
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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.