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.