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

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

Type: Bullish BounceKey Levels:Resistance: 633’6Pivot: 626’2Support: 615’0Preferred Case:With price moving above our Ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance at 633’6 in line with the horizontal pullback resistance from our pivot of 626’2 in line with the 61.80% Fibonacci retracement and horizontal pullback support.Alternative Scenario:Alternatively, price may break pivot structure and head for 1st support at 615’0 in line with the horizontal swing low support and 78.60% Fibonacci retracement.Fundamentals:No Major News

Source: Tickmill

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