Commodity Market: Support and Resistance Levels for Thursday (November 24th 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 – $16.443
R2 – $16.496
R3 (Range Resistance – Sell) – $16.548
R4 (Long Breakout) – $16.705
R5 (Breakout Target 1) – $16.888
R6 (Breakout Target 2) – $16.969

S1 – $16.339
S2 – $16.287
S3 (Range Support – Buy) – $16.234
S4 (Short Breakout) – $16.078
S5 (Breakout Target 1) – $15.894
S6 (Breakout Target 2) – $15.813

Copper (HG) for December delivery (1 Pound)

R1 – $2.6171
R2 – $2.6268
R3 (Range Resistance – Sell) – $2.6364
R4 (Long Breakout) – $2.6653
R5 (Breakout Target 1) – $2.6990
R6 (Breakout Target 2) – $2.7161

S1 – $2.5979
S2 – $2.5883
S3 (Range Support – Buy) – $2.5786
S4 (Short Breakout) – $2.5498
S5 (Breakout Target 1) – $2.5160
S6 (Breakout Target 2) – $2.4989

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

R1 – 1,035.9
R2 – 1,037.6
R3 (Range Resistance – Sell) – 1,039.3
R4 (Long Breakout) – 1,044.3
R5 (Breakout Target 1) – 1,050.2
R6 (Breakout Target 2) – 1,052.9

S1 – 1,032.5
S2 – 1,030.8
S3 (Range Support – Buy) – 1,029.1
S4 (Short Breakout) – 1,024.1
S5 (Breakout Target 1) – 1,018.2
S6 (Breakout Target 2) – 1,015.5

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

R1 – 351.0
R2 – 351.4
R3 (Range Resistance – Sell) – 351.9
R4 (Long Breakout) – 353.1
R5 (Breakout Target 1) – 354.6
R6 (Breakout Target 2) – 355.3

S1 – 350.2
S2 – 349.8
S3 (Range Support – Buy) – 349.3
S4 (Short Breakout) – 348.1
S5 (Breakout Target 1) – 346.6
S6 (Breakout Target 2) – 345.9

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

R1 – 402.4
R2 – 403.4
R3 (Range Resistance – Sell) – 404.4
R4 (Long Breakout) – 407.5
R5 (Breakout Target 1) – 411.0
R6 (Breakout Target 2) – 412.5

S1 – 400.4
S2 – 399.4
S3 (Range Support – Buy) – 398.4
S4 (Short Breakout) – 395.4
S5 (Breakout Target 1) – 391.8
S6 (Breakout Target 2) – 390.3

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

R1 – $3.039
R2 – $3.053
R3 (Range Resistance – Sell) – $3.066
R4 (Long Breakout) – $3.107
R5 (Breakout Target 1) – $3.154
R6 (Breakout Target 2) – $3.179

S1 – $3.013
S2 – $3.000
S3 (Range Support – Buy) – $2.986
S4 (Short Breakout) – $2.945
S5 (Breakout Target 1) – $2.898
S6 (Breakout Target 2) – $2.873

Crude Oil (CL) for January 2017 delivery (1 Barrel)

R1 – $48.05
R2 – $48.15
R3 (Range Resistance – Sell) – $48.24
R4 (Long Breakout) – $48.53
R5 (Breakout Target 1) – $48.86
R6 (Breakout Target 2) – $49.00

S1 – $47.87
S2 – $47.77
S3 (Range Support – Buy) – $47.68
S4 (Short Breakout) – $47.39
S5 (Breakout Target 1) – $47.06
S6 (Breakout Target 2) – $46.92

Related News