Corn Futures (ZC1!) H4 | Potential Bullish Reversal
Corn Futures (ZC1!) H4 | Potential Bullish Reversal
Type:
Bullish Reversal
Key Levels:
Resistance: 411'6
Pivot: 401'4
Support: 397'0
Preferred Case:
Looking at the H4 chart, the RSI and the stochastic oscillator are both indicating a potential 'Oversold' condition as the price has reversed off a swing-low support - a level where a bullish reversal has taken place previously. It could continue rising towards the 1st Resistance at 411'6.
Alternative Scenario:
Price may break below the Pivot at 401'4 and fall towards the 1st Support at 397'0.