Genesiv

Oat Futures ( ZO1! ), H1 Potential for Bullish bounce

Long
CBOT:ZO1!   Oat Futures
Type : Bullish Bounce
Resistance : 648'1
Pivot: 633'1
Support : 626'0

Preferred 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
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