Type: Bullish RiseKey Levels:Resistance: 690'6Pivot: 679'3Support: 673'1Preferred Case:Price is moving above the ichimoku cloud which supports our bullish bias that price will rise from the pivot at 679'3 where the pullback support and 23.6% fibonacci retracement are to the 1st resistance at 690'6 in line with the swing high resistance, 78.6% fibonacci projection and 78.6% fibonacci retracement .Alternative Scenario:Alternatively, price may break pivot structure and drop to the 1st support at 673'1 in line with the overlap support and 38.2% fibonacci retracement .Fundamentals:Since both countries, Russia and Ukraine, are major exporter of agriculture goods and their persistent war will lead to a shortage of agricultural goods and give us a bullish bias for oat.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/oat-futures-zo1-h1-potential-for-bullish-bounce6"
via IFTTT
Subscribe to:
Post Comments (Atom)
-
The new strain of covid found in South Africa could disrupt plans by governments and central banks to rebuild economies. Financial markets a...
-
Fidelity “FIS” is a global financial services technology company and a leader in providing technology solutions to merchants, banks and cap...
-
Asian Equities Sink on Covid FearsIt’s been a mixed start to the week for global equities benchmarks with US and European asset markets rema...
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.