Commodity Market: Support and Resistance Levels for Thursday (October 27th 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 – $17.653
R2 – $17.680
R3 (Range Resistance – Sell) – $17.707
R4 (Long Breakout) – $17.788
R5 (Breakout Target 1) – $17.883
R6 (Breakout Target 2) – $17.922

S1 – $17.599
S2 – $17.572
S3 (Range Support – Buy) – $17.545
S4 (Short Breakout) – $17.464
S5 (Breakout Target 1) – $17.369
S6 (Breakout Target 2) – $17.330

Copper (HG) for December delivery (1 Pound)

R1 – $2.1476
R2 – $2.1496
R3 (Range Resistance – Sell) – $2.1517
R4 (Long Breakout) – $2.1579
R5 (Breakout Target 1) – $2.1651
R6 (Breakout Target 2) – $2.1682

S1 – $2.1434
S2 – $2.1414
S3 (Range Support – Buy) – $2.1393
S4 (Short Breakout) – $2.1331
S5 (Breakout Target 1) – $2.1259
S6 (Breakout Target 2) – $2.1228

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

R1 – 1,012.1
R2 – 1,014.1
R3 (Range Resistance – Sell) – 1,016.2
R4 (Long Breakout) – 1,022.3
R5 (Breakout Target 1) – 1,029.5
R6 (Breakout Target 2) – 1,032.9

S1 – 1,007.9
S2 – 1,005.9
S3 (Range Support – Buy) – 1,003.8
S4 (Short Breakout) – 997.7
S5 (Breakout Target 1) – 990.5
S6 (Breakout Target 2) – 987.1

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

R1 – 354.6
R2 – 355.2
R3 (Range Resistance – Sell) – 355.8
R4 (Long Breakout) – 357.6
R5 (Breakout Target 1) – 359.7
R6 (Breakout Target 2) – 360.7

S1 – 353.4
S2 – 352.8
S3 (Range Support – Buy) – 352.2
S4 (Short Breakout) – 350.4
S5 (Breakout Target 1) – 348.3
S6 (Breakout Target 2) – 347.3

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

R1 – 412.4
R2 – 413.5
R3 (Range Resistance – Sell) – 414.5
R4 (Long Breakout) – 417.7
R5 (Breakout Target 1) – 421.3
R6 (Breakout Target 2) – 423.0

S1 – 410.4
S2 – 409.3
S3 (Range Support – Buy) – 408.3
S4 (Short Breakout) – 405.1
S5 (Breakout Target 1) – 401.5
S6 (Breakout Target 2) – 399.8

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

R1 – $3.051
R2 – $3.066
R3 (Range Resistance – Sell) – $3.081
R4 (Long Breakout) – $3.126
R5 (Breakout Target 1) – $3.179
R6 (Breakout Target 2) – $3.204

S1 – $3.021
S2 – $3.006
S3 (Range Support – Buy) – $2.991
S4 (Short Breakout) – $2.946
S5 (Breakout Target 1) – $2.893
S6 (Breakout Target 2) – $2.868

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

R1 – $49.29
R2 – $49.41
R3 (Range Resistance – Sell) – $49.52
R4 (Long Breakout) – $49.86
R5 (Breakout Target 1) – $50.25
R6 (Breakout Target 2) – $50.42

S1 – $49.07
S2 – $48.95
S3 (Range Support – Buy) – $48.84
S4 (Short Breakout) – $48.50
S5 (Breakout Target 1) – $48.11
S6 (Breakout Target 2) – $47.94

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