Commodity Market: Support and Resistance Levels for Tuesday (November 8th 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 – $18.177
R2 – $18.203
R3 (Range Resistance – Sell) – $18.229
R4 (Long Breakout) – $18.308
R5 (Breakout Target 1) – $18.399
R6 (Breakout Target 2) – $18.438

S1 – $18.125
S2 – $18.099
S3 (Range Support – Buy) – $18.073
S4 (Short Breakout) – $17.994
S5 (Breakout Target 1) – $17.903
S6 (Breakout Target 2) – $17.864

Copper (HG) for December delivery (1 Pound)

R1 – $2.3151
R2 – $2.3208
R3 (Range Resistance – Sell) – $2.3264
R4 (Long Breakout) – $2.3433
R5 (Breakout Target 1) – $2.3631
R6 (Breakout Target 2) – $2.3725

S1 – $2.3039
S2 – $2.2982
S3 (Range Support – Buy) – $2.2926
S4 (Short Breakout) – $2.2757
S5 (Breakout Target 1) – $2.2559
S6 (Breakout Target 2) – $2.2465

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

R1 – 999.5
R2 – 1,000.5
R3 (Range Resistance – Sell) – 1,001.6
R4 (Long Breakout) – 1,004.8
R5 (Breakout Target 1) – 1,008.5
R6 (Breakout Target 2) – 1,010.1

S1 – 997.3
S2 – 996.3
S3 (Range Support – Buy) – 995.2
S4 (Short Breakout) – 992.0
S5 (Breakout Target 1) – 988.3
S6 (Breakout Target 2) – 986.7

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

R1 – 346.6
R2 – 347.0
R3 (Range Resistance – Sell) – 347.4
R4 (Long Breakout) – 348.6
R5 (Breakout Target 1) – 350.0
R6 (Breakout Target 2) – 350.6

S1 – 345.8
S2 – 345.4
S3 (Range Support – Buy) – 345.0
S4 (Short Breakout) – 343.8
S5 (Breakout Target 1) – 342.4
S6 (Breakout Target 2) – 341.8

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

R1 – 410.8
R2 – 411.7
R3 (Range Resistance – Sell) – 412.5
R4 (Long Breakout) – 415.1
R5 (Breakout Target 1) – 418.0
R6 (Breakout Target 2) – 419.3

S1 – 409.2
S2 – 408.3
S3 (Range Support – Buy) – 407.5
S4 (Short Breakout) – 404.9
S5 (Breakout Target 1) – 402.0
S6 (Breakout Target 2) – 400.7

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

R1 – $2.825
R2 – $2.833
R3 (Range Resistance – Sell) – $2.842
R4 (Long Breakout) – $2.868
R5 (Breakout Target 1) – $2.898
R6 (Breakout Target 2) – $2.911

S1 – $2.807
S2 – $2.799
S3 (Range Support – Buy) – $2.790
S4 (Short Breakout) – $2.764
S5 (Breakout Target 1) – $2.734
S6 (Breakout Target 2) – $2.721

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

R1 – $44.97
R2 – $45.06
R3 (Range Resistance – Sell) – $45.14
R4 (Long Breakout) – $45.39
R5 (Breakout Target 1) – $45.67
R6 (Breakout Target 2) – $45.81

S1 – $44.81
S2 – $44.73
S3 (Range Support – Buy) – $44.64
S4 (Short Breakout) – $44.40
S5 (Breakout Target 1) – $44.11
S6 (Breakout Target 2) – $43.97

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