Oat Futures ( ZO1! ), H1 Potential For Bullish Bounce

oat-futures-(-zo1!-),-h1-potential-for-bullish-bounce

Type: Bullish BounceKey Levels:Resistance: 648’1Pivot: 633’1Support: 626’0Preferred Case:With price moving above our Ichimoku cloud , we have a bullish bias that price will rise to our 1st resistance at 648’1 in line with the horizontal pullback resistance and 61.8% Fibonacci projection from our pivot of 633’1 in line with the 38.2% Fibonacci retracement and horizontal swing low support.Alternative Scenario:Alternatively, price may break pivot structure and head for 1st support at 626’0 in line with the horizontal pullback support.Fundamentals:No Major News

Source: Tickmill

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