Commodity Market: Pivot Levels for Thursday (March 16th 2017)

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 May delivery (1 Troy Ounce)

R1 – $16.973
R2 – $17.023
R3 (Range Resistance – Sell) – $17.073
R4 (Long Breakout) – $17.223
R5 (Breakout Target 1) – $17.398
R6 (Breakout Target 2) – $17.471

S1 – $16.873
S2 – $16.823
S3 (Range Support – Buy) – $16.773
S4 (Short Breakout) – $16.623
S5 (Breakout Target 1) – $16.448
S6 (Breakout Target 2) – $16.375

Copper (HG) for May delivery (1 Pound)

R1 – $2.6602
R2 – $2.6638
R3 (Range Resistance – Sell) – $2.6675
R4 (Long Breakout) – $2.6785
R5 (Breakout Target 1) – $2.6913
R6 (Breakout Target 2) – $2.6968

S1 – $2.6528
S2 – $2.6492
S3 (Range Support – Buy) – $2.6455
S4 (Short Breakout) – $2.6345
S5 (Breakout Target 1) – $2.6217
S6 (Breakout Target 2) – $2.6162

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

R1 – 999.1
R2 – 1,000.3
R3 (Range Resistance – Sell) – 1,001.4
R4 (Long Breakout) – 1,004.8
R5 (Breakout Target 1) – 1,008.8
R6 (Breakout Target 2) – 1,010.4

S1 – 996.9
S2 – 995.7
S3 (Range Support – Buy) – 994.6
S4 (Short Breakout) – 991.2
S5 (Breakout Target 1) – 987.2
S6 (Breakout Target 2) – 985.6

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

R1 – 363.6
R2 – 363.9
R3 (Range Resistance – Sell) – 364.1
R4 (Long Breakout) – 364.8
R5 (Breakout Target 1) – 365.7
R6 (Breakout Target 2) – 366.0

S1 – 363.2
S2 – 362.9
S3 (Range Support – Buy) – 362.7
S4 (Short Breakout) – 362.0
S5 (Breakout Target 1) – 361.1
S6 (Breakout Target 2) – 360.8

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

R1 – 436.6
R2 – 437.2
R3 (Range Resistance – Sell) – 437.8
R4 (Long Breakout) – 439.6
R5 (Breakout Target 1) – 441.7
R6 (Breakout Target 2) – 442.7

S1 – 435.4
S2 – 434.8
S3 (Range Support – Buy) – 434.2
S4 (Short Breakout) – 432.4
S5 (Breakout Target 1) – 430.3
S6 (Breakout Target 2) – 429.3

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

R1 – $2.989
R2 – $2.996
R3 (Range Resistance – Sell) – $3.004
R4 (Long Breakout) – $3.027
R5 (Breakout Target 1) – $3.053
R6 (Breakout Target 2) – $3.066

S1 – $2.973
S2 – $2.966
S3 (Range Support – Buy) – $2.958
S4 (Short Breakout) – $2.935
S5 (Breakout Target 1) – $2.909
S6 (Breakout Target 2) – $2.896

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

R1 – $48.94
R2 – $49.02
R3 (Range Resistance – Sell) – $49.10
R4 (Long Breakout) – $49.34
R5 (Breakout Target 1) – $49.63
R6 (Breakout Target 2) – $49.75

S1 – $48.78
S2 – $48.70
S3 (Range Support – Buy) – $48.62
S4 (Short Breakout) – $48.38
S5 (Breakout Target 1) – $48.09
S6 (Breakout Target 2) – $47.97

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