Commodity Market: Support and Resistance Levels for Wednesday (November 2nd 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 – $18.479
R2 – $18.539
R3 (Range Resistance – Sell) – $18.600
R4 (Long Breakout) – $18.781
R5 (Breakout Target 1) – $18.993
R6 (Breakout Target 2) – $19.099

S1 – $18.358
S2 – $18.297
S3 (Range Support – Buy) – $18.237
S4 (Short Breakout) – $18.055
S5 (Breakout Target 1) – $17.843
S6 (Breakout Target 2) – $17.737

Copper (HG) for December delivery (1 Pound)

R1 – $2.2322
R2 – $2.2353
R3 (Range Resistance – Sell) – $2.2385
R4 (Long Breakout) – $2.2480
R5 (Breakout Target 1) – $2.2591
R6 (Breakout Target 2) – $2.2640

S1 – $2.2258
S2 – $2.2227
S3 (Range Support – Buy) – $2.2195
S4 (Short Breakout) – $2.2100
S5 (Breakout Target 1) – $2.1989
S6 (Breakout Target 2) – $2.1940

Soybeans (ZS) for January 2017 delivery (in US cents per 1 Bushel)

R1 – 995.4
R2 – 997.7
R3 (Range Resistance – Sell) – 1,000.0
R4 (Long Breakout) – 1,006.6
R5 (Breakout Target 1) – 1,014.5
R6 (Breakout Target 2) – 1,017.6

S1 – 991.0
S2 – 988.7
S3 (Range Support – Buy) – 986.5
S4 (Short Breakout) – 979.8
S5 (Breakout Target 1) – 971.9
S6 (Breakout Target 2) – 968.8

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

R1 – 349.7
R2 – 350.4
R3 (Range Resistance – Sell) – 351.0
R4 (Long Breakout) – 353.1
R5 (Breakout Target 1) – 355.4
R6 (Breakout Target 2) – 356.4

S1 – 348.3
S2 – 347.6
S3 (Range Support – Buy) – 347.0
S4 (Short Breakout) – 344.9
S5 (Breakout Target 1) – 342.6
S6 (Breakout Target 2) – 341.6

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

R1 – 414.9
R2 – 415.6
R3 (Range Resistance – Sell) – 416.3
R4 (Long Breakout) – 418.4
R5 (Breakout Target 1) – 420.8
R6 (Breakout Target 2) – 421.9

S1 – 413.5
S2 – 412.8
S3 (Range Support – Buy) – 412.1
S4 (Short Breakout) – 410.0
S5 (Breakout Target 1) – 407.6
S6 (Breakout Target 2) – 406.5

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

R1 – $2.918
R2 – $2.935
R3 (Range Resistance – Sell) – $2.951
R4 (Long Breakout) – $3.000
R5 (Breakout Target 1) – $3.058
R6 (Breakout Target 2) – $3.084

S1 – $2.886
S2 – $2.869
S3 (Range Support – Buy) – $2.853
S4 (Short Breakout) – $2.804
S5 (Breakout Target 1) – $2.746
S6 (Breakout Target 2) – $2.720

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

R1 – $46.78
R2 – $46.88
R3 (Range Resistance – Sell) – $46.99
R4 (Long Breakout) – $47.30
R5 (Breakout Target 1) – $47.67
R6 (Breakout Target 2) – $47.83

S1 – $46.56
S2 – $46.46
S3 (Range Support – Buy) – $46.35
S4 (Short Breakout) – $46.04
S5 (Breakout Target 1) – $45.67
S6 (Breakout Target 2) – $45.51

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