Commodity Market: Support and Resistance Levels for Thursday (November 17th 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 – $16.962
R2 – $16.997
R3 (Range Resistance – Sell) – $17.032
R4 (Long Breakout) – $17.136
R5 (Breakout Target 1) – $17.258
R6 (Breakout Target 2) – $17.309

S1 – $16.892
S2 – $16.857
S3 (Range Support – Buy) – $16.823
S4 (Short Breakout) – $16.718
S5 (Breakout Target 1) – $16.596
S6 (Breakout Target 2) – $16.545

Copper (HG) for December delivery (1 Pound)

R1 – $2.4737
R2 – $2.4800
R3 (Range Resistance – Sell) – $2.4861
R4 (Long Breakout) – $2.5046
R5 (Breakout Target 1) – $2.5263
R6 (Breakout Target 2) – $2.5356

S1 – $2.4613
S2 – $2.4551
S3 (Range Support – Buy) – $2.4489
S4 (Short Breakout) – $2.4304
S5 (Breakout Target 1) – $2.4087
S6 (Breakout Target 2) – $2.3994

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

R1 – 987.0
R2 – 988.4
R3 (Range Resistance – Sell) – 989.7
R4 (Long Breakout) – 993.9
R5 (Breakout Target 1) – 998.7
R6 (Breakout Target 2) – 1,000.6

S1 – 984.2
S2 – 982.9
S3 (Range Support – Buy) – 981.5
S4 (Short Breakout) – 977.4
S5 (Breakout Target 1) – 972.5
S6 (Breakout Target 2) – 970.6

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

R1 – 338.9
R2 – 339.3
R3 (Range Resistance – Sell) – 339.8
R4 (Long Breakout) – 341.2
R5 (Breakout Target 1) – 342.8
R6 (Breakout Target 2) – 343.4

S1 – 337.9
S2 – 337.5
S3 (Range Support – Buy) – 337.0
S4 (Short Breakout) – 335.7
S5 (Breakout Target 1) – 334.0
S6 (Breakout Target 2) – 333.4

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

R1 – 414.8
R2 – 415.4
R3 (Range Resistance – Sell) – 416.0
R4 (Long Breakout) – 417.7
R5 (Breakout Target 1) – 419.8
R6 (Breakout Target 2) – 420.6

S1 – 413.6
S2 – 413.0
S3 (Range Support – Buy) – 412.4
S4 (Short Breakout) – 410.7
S5 (Breakout Target 1) – 408.6
S6 (Breakout Target 2) – 407.8

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

R1 – $2.774
R2 – $2.785
R3 (Range Resistance – Sell) – $2.795
R4 (Long Breakout) – $2.826
R5 (Breakout Target 1) – $2.862
R6 (Breakout Target 2) – $2.881

S1 – $2.754
S2 – $2.743
S3 (Range Support – Buy) – $2.733
S4 (Short Breakout) – $2.702
S5 (Breakout Target 1) – $2.666
S6 (Breakout Target 2) – $2.647

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

R1 – $45.70
R2 – $45.82
R3 (Range Resistance – Sell) – $45.95
R4 (Long Breakout) – $46.33
R5 (Breakout Target 1) – $46.77
R6 (Breakout Target 2) – $46.97

S1 – $45.44
S2 – $45.32
S3 (Range Support – Buy) – $45.19
S4 (Short Breakout) – $44.81
S5 (Breakout Target 1) – $44.37
S6 (Breakout Target 2) – $44.17

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