Commodity Market: Support and Resistance Levels for Friday (November 18th 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 – $16.818
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

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