Corn Futures (ZC1!) D1 | Falling towards Overlap Support
Type:
Bullish Bounce
Key Levels:
Resistance: 497’0
Pivot: 472’4
Support: 458’4
Preferred Case:
Looking at the D1 chart, the price could fall towards an overlap support and stabilize around this level before reversing to bounce higher toward the 1st resistance at 497’0.
Alternative Scenario:
Price may break below the Pivot at 472’4 and fall toward 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.