Corn Futures (ZC1!) H4 | Approaching 61.8% Fibonacci Support
Type:
Bullish Bounce
Key Levels:
Resistance: 483’2
Pivot: 456’2
Support: 442’4
Preferred Case:
Looking at the H4 chart, the price could fall toward a pullback support and potentially stabilize around this level before rising toward the 1st Resistance at 483’2.
Alternative Scenario:
Price may break below the Pivot at 456’2 and fall toward the 1st Support at 442’4.
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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.