Commodity Market: Support and Resistance Levels for Wednesday (November 16th 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 – $17.072
R2 – $17.101
R3 (Range Resistance – Sell) – $17.130
R4 (Long Breakout) – $17.216
R5 (Breakout Target 1) – $17.317
R6 (Breakout Target 2) – $17.362

S1 – $17.014
S2 – $16.985
S3 (Range Support – Buy) – $16.956
S4 (Short Breakout) – $16.870
S5 (Breakout Target 1) – $16.769
S6 (Breakout Target 2) – $16.724

Copper (HG) for December delivery (1 Pound)

R1 – $2.5182
R2 – $2.5314
R3 (Range Resistance – Sell) – $2.5446
R4 (Long Breakout) – $2.5842
R5 (Breakout Target 1) – $2.6305
R6 (Breakout Target 2) – $2.6537

S1 – $2.4918
S2 – $2.4786
S3 (Range Support – Buy) – $2.4654
S4 (Short Breakout) – $2.4258
S5 (Breakout Target 1) – $2.3795
S6 (Breakout Target 2) – $2.3563

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

R1 – 990.7
R2 – 992.0
R3 (Range Resistance – Sell) – 993.3
R4 (Long Breakout) – 997.1
R5 (Breakout Target 1) – 1,001.6
R6 (Breakout Target 2) – 1,003.6

S1 – 988.1
S2 – 986.8
S3 (Range Support – Buy) – 985.6
S4 (Short Breakout) – 981.7
S5 (Breakout Target 1) – 977.2
S6 (Breakout Target 2) – 975.2

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

R1 – 342.0
R2 – 342.6
R3 (Range Resistance – Sell) – 343.2
R4 (Long Breakout) – 345.0
R5 (Breakout Target 1) – 347.1
R6 (Breakout Target 2) – 348.1

S1 – 340.8
S2 – 340.2
S3 (Range Support – Buy) – 339.6
S4 (Short Breakout) – 337.8
S5 (Breakout Target 1) – 335.7
S6 (Breakout Target 2) – 334.7

Chicago Soft Red Winter Wheat (SRW) for March 2017 delivery (in US cents per 1 Bushel)

R1 – 419.4
R2 – 420.3
R3 (Range Resistance – Sell) – 421.1
R4 (Long Breakout) – 423.7
R5 (Breakout Target 1) – 426.6
R6 (Breakout Target 2) – 428.0

S1 – 417.8
S2 – 416.9
S3 (Range Support – Buy) – 416.1
S4 (Short Breakout) – 413.5
S5 (Breakout Target 1) – 410.6
S6 (Breakout Target 2) – 409.2

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

R1 – $2.721
R2 – $2.732
R3 (Range Resistance – Sell) – $2.744
R4 (Long Breakout) – $2.779
R5 (Breakout Target 1) – $2.821
R6 (Breakout Target 2) – $2.838

S1 – $2.697
S2 – $2.686
S3 (Range Support – Buy) – $2.674
S4 (Short Breakout) – $2.639
S5 (Breakout Target 1) – $2.597
S6 (Breakout Target 2) – $2.580

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

R1 – $46.04
R2 – $46.28
R3 (Range Resistance – Sell) – $46.51
R4 (Long Breakout) – $47.21
R5 (Breakout Target 1) – $48.02
R6 (Breakout Target 2) – $48.48

S1 – $45.58
S2 – $45.34
S3 (Range Support – Buy) – $45.11
S4 (Short Breakout) – $44.41
S5 (Breakout Target 1) – $43.60
S6 (Breakout Target 2) – $43.14

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