Commodity Market: Pivot Levels for Wednesday (December 21st 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 March 2017 delivery (1 Troy Ounce)

R1 – $16.162
R2 – $16.207
R3 (Range Resistance – Sell) – $16.252
R4 (Long Breakout) – $16.387
R5 (Breakout Target 1) – $16.544
R6 (Breakout Target 2) – $16.621

S1 – $16.072
S2 – $16.027
S3 (Range Support – Buy) – $15.982
S4 (Short Breakout) – $15.848
S5 (Breakout Target 1) – $15.690
S6 (Breakout Target 2) – $15.613

Copper (HG) for March 2017 delivery (1 Pound)

R1 – $2.5050
R2 – $2.5075
R3 (Range Resistance – Sell) – $2.5101
R4 (Long Breakout) – $2.5176
R5 (Breakout Target 1) – $2.5265
R6 (Breakout Target 2) – $2.5302

S1 – $2.5000
S2 – $2.4975
S3 (Range Support – Buy) – $2.4949
S4 (Short Breakout) – $2.4874
S5 (Breakout Target 1) – $2.4785
S6 (Breakout Target 2) – $2.4748

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

R1 – 1,007.0
R2 – 1,008.9
R3 (Range Resistance – Sell) – 1,010.7
R4 (Long Breakout) – 1,016.4
R5 (Breakout Target 1) – 1,022.6
R6 (Breakout Target 2) – 1,025.2

S1 – 1,003.4
S2 – 1,001.5
S3 (Range Support – Buy) – 999.7
S4 (Short Breakout) – 994.2
S5 (Breakout Target 1) – 987.8
S6 (Breakout Target 2) – 985.2

Corn (ZC) for March 2017 delivery (in US cents per 1 Bushel)

R1 – 350.6
R2 – 351.0
R3 (Range Resistance – Sell) – 351.4
R4 (Long Breakout) – 352.6
R5 (Breakout Target 1) – 354.0
R6 (Breakout Target 2) – 354.6

S1 – 349.8
S2 – 349.4
S3 (Range Support – Buy) – 349.0
S4 (Short Breakout) – 347.8
S5 (Breakout Target 1) – 346.4
S6 (Breakout Target 2) – 345.8

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

R1 – 403.9
R2 – 404.6
R3 (Range Resistance – Sell) – 405.2
R4 (Long Breakout) – 407.3
R5 (Breakout Target 1) – 409.6
R6 (Breakout Target 2) – 410.7

S1 – 402.5
S2 – 401.8
S3 (Range Support – Buy) – 401.2
S4 (Short Breakout) – 399.1
S5 (Breakout Target 1) – 396.8
S6 (Breakout Target 2) – 395.7

Natural Gas (NG) for January 2017 delivery (1 Mmbtu)

R1 – $3.278
R2 – $3.293
R3 (Range Resistance – Sell) – $3.309
R4 (Long Breakout) – $3.354
R5 (Breakout Target 1) – $3.408
R6 (Breakout Target 2) – $3.430

S1 – $3.248
S2 – $3.233
S3 (Range Support – Buy) – $3.217
S4 (Short Breakout) – $3.172
S5 (Breakout Target 1) – $3.118
S6 (Breakout Target 2) – $3.096

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

R1 – $53.39
R2 – $53.47
R3 (Range Resistance – Sell) – $53.56
R4 (Long Breakout) – $53.81
R5 (Breakout Target 1) – $54.11
R6 (Breakout Target 2) – $54.24

S1 – $53.21
S2 – $53.13
S3 (Range Support – Buy) – $53.04
S4 (Short Breakout) – $52.79
S5 (Breakout Target 1) – $52.49
S6 (Breakout Target 2) – $52.36

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