Commodity Market: Support and Resistance Levels for Friday (November 18th 2016)

Silver (SI) for December delivery (1 Troy Ounce)

R1 – $16.818
R2 – $16.865
R3 (Range Resistance – Sell) – $16.911
R4 (Long Breakout) – $17.050
R5 (Breakout Target 1) – $17.212
R6 (Breakout Target 2) – $17.283

S1 – $16.726
S2 – $16.679
S3 (Range Support – Buy) – $16.633
S4 (Short Breakout) – $16.494
S5 (Breakout Target 1) – $16.332
S6 (Breakout Target 2) – $16.261

Copper (HG) for December delivery (1 Pound)

R1 – $2.4972
R2 – $2.5035
R3 (Range Resistance – Sell) – $2.5097
R4 (Long Breakout) – $2.5284
R5 (Breakout Target 1) – $2.5502
R6 (Breakout Target 2) – $2.5605

S1 – $2.4848
S2 – $2.4785
S3 (Range Support – Buy) – $2.4723
S4 (Short Breakout) – $2.4536
S5 (Breakout Target 1) – $2.4318
S6 (Breakout Target 2) – $2.4215

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

R1 – 990.6
R2 – 991.7
R3 (Range Resistance – Sell) – 992.9
R4 (Long Breakout) – 996.3
R5 (Breakout Target 1) – 1,000.4
R6 (Breakout Target 2) – 1,002.1

S1 – 988.2
S2 – 987.1
S3 (Range Support – Buy) – 985.9
S4 (Short Breakout) – 982.5
S5 (Breakout Target 1) – 978.4
S6 (Breakout Target 2) – 976.7

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

R1 – 342.5
R2 – 343.0
R3 (Range Resistance – Sell) – 343.4
R4 (Long Breakout) – 344.9
R5 (Breakout Target 1) – 346.5
R6 (Breakout Target 2) – 347.3

S1 – 341.5
S2 – 341.0
S3 (Range Support – Buy) – 340.6
S4 (Short Breakout) – 339.1
S5 (Breakout Target 1) – 337.5
S6 (Breakout Target 2) – 336.7

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

R1 – 420.8
R2 – 421.5
R3 (Range Resistance – Sell) – 422.3
R4 (Long Breakout) – 424.5
R5 (Breakout Target 1) – 427.1
R6 (Breakout Target 2) – 428.3

S1 – 419.2
S2 – 418.5
S3 (Range Support – Buy) – 417.7
S4 (Short Breakout) – 415.5
S5 (Breakout Target 1) – 412.9
S6 (Breakout Target 2) – 411.7

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

R1 – $2.714
R2 – $2.724
R3 (Range Resistance – Sell) – $2.735
R4 (Long Breakout) – $2.767
R5 (Breakout Target 1) – $2.805
R6 (Breakout Target 2) – $2.821

S1 – $2.692
S2 – $2.682
S3 (Range Support – Buy) – $2.671
S4 (Short Breakout) – $2.639
S5 (Breakout Target 1) – $2.601
S6 (Breakout Target 2) – $2.585

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

R1 – $45.58
R2 – $45.73
R3 (Range Resistance – Sell) – $45.89
R4 (Long Breakout) – $46.36
R5 (Breakout Target 1) – $46.90
R6 (Breakout Target 2) – $47.14

S1 – $45.26
S2 – $45.11
S3 (Range Support – Buy) – $44.95
S4 (Short Breakout) – $44.49
S5 (Breakout Target 1) – $43.94
S6 (Breakout Target 2) – $43.70