Commodity Market: Support and Resistance Levels for Wednesday (October 26th 2016)

Written by Miroslav Marinov

Miroslav Marinov, a financial news editor at TradingPedia, is engaged with observing and reporting on the tendencies in the Foreign Exchange Market, as currently his focus is set on the major currencies of eight developed nations worldwide.

, | Updated: October 30, 2024

Silver (SI) for December delivery (1 Troy Ounce)

R1 – $17.808
R2 – $17.837
R3 (Range Resistance – Sell) – $17.865
R4 (Long Breakout) – $17.951
R5 (Breakout Target 1) – $18.050
R6 (Breakout Target 2) – $18.095

S1 – $17.752
S2 – $17.723
S3 (Range Support – Buy) – $17.695
S4 (Short Breakout) – $17.610
S5 (Breakout Target 1) – $17.510
S6 (Breakout Target 2) – $17.465

Copper (HG) for December delivery (1 Pound)

R1 – $2.1434
R2 – $2.1482
R3 (Range Resistance – Sell) – $2.1531
R4 (Long Breakout) – $2.1677
R5 (Breakout Target 1) – $2.1847
R6 (Breakout Target 2) – $2.1926

S1 – $2.1336
S2 – $2.1288
S3 (Range Support – Buy) – $2.1239
S4 (Short Breakout) – $2.1094
S5 (Breakout Target 1) – $2.0923
S6 (Breakout Target 2) – $2.0844

Soybeans (ZS) for November delivery (in US cents per 1 Bushel)

R1 – 992.0
R2 – 993.5
R3 (Range Resistance – Sell) – 994.9
R4 (Long Breakout) – 999.3
R5 (Breakout Target 1) – 1004.4
R6 (Breakout Target 2) – 1006.6

S1 – 989.2
S2 – 987.7
S3 (Range Support – Buy) – 986.3
S4 (Short Breakout) – 981.9
S5 (Breakout Target 1) – 976.8
S6 (Breakout Target 2) – 974.6

Corn (ZC) for December delivery (in US cents per 1 Bushel)

R1 – 349.7
R2 – 350.1
R3 (Range Resistance – Sell) – 350.6
R4 (Long Breakout) – 352.0
R5 (Breakout Target 1) – 353.6
R6 (Breakout Target 2) – 354.2

S1 – 348.7
S2 – 348.3
S3 (Range Support – Buy) – 347.8
S4 (Short Breakout) – 346.5
S5 (Breakout Target 1) – 344.8
S6 (Breakout Target 2) – 344.2

Chicago Soft Red Winter Wheat (SRW) for December delivery (in US cents per 1 Bushel)

R1 – 404.9
R2 – 405.7
R3 (Range Resistance – Sell) – 406.4
R4 (Long Breakout) – 408.6
R5 (Breakout Target 1) – 411.2
R6 (Breakout Target 2) – 412.3

S1 – 403.5
S2 – 402.7
S3 (Range Support – Buy) – 402.0
S4 (Short Breakout) – 399.8
S5 (Breakout Target 1) – 397.2
S6 (Breakout Target 2) – 396.1

Natural Gas (NG) for December delivery (1 Mmbtu)

R1 – $3.170
R2 – $3.191
R3 (Range Resistance – Sell) – $3.213
R4 (Long Breakout) – $3.276
R5 (Breakout Target 1) – $3.350
R6 (Breakout Target 2) – $3.383

S1 – $3.128
S2 – $3.107
S3 (Range Support – Buy) – $3.085
S4 (Short Breakout) – $3.022
S5 (Breakout Target 1) – $2.948
S6 (Breakout Target 2) – $2.915

Crude Oil (CL) for December delivery (1 Barrel)

R1 – $50.11
R2 – $50.26
R3 (Range Resistance – Sell) – $50.42
R4 (Long Breakout) – $50.87
R5 (Breakout Target 1) – $51.41
R6 (Breakout Target 2) – $51.64

S1 – $49.81
S2 – $49.66
S3 (Range Support – Buy) – $49.50
S4 (Short Breakout) – $49.05
S5 (Breakout Target 1) – $48.51
S6 (Breakout Target 2) – $48.28

Related News