Soybean Futures (ZS1!) H1 | Potential Bullish Bounce
Type:
Bullish Bounce
Key Levels:
Resistance: 1076’2
Pivot: 1057’2
Support: 1041’4
Preferred Case:
Looking at the H1 chart, the price is trading close to a pullback support and could potentially bounce off this level to rise toward the 1st Resistance at 1076’2.
Alternative Scenario:
Price may break below the Pivot at 1057’2 and fall toward the 1st Support at 1041’4.
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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.