Commodity Market: Pivot Levels for Wednesday (May 31st 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 July delivery (1 Troy Ounce)

R1 – $17.451
R2 – $17.475
R3 (Range Resistance – Sell) – $17.499
R4 (Long Breakout) – $17.570
R5 (Breakout Target 1) – $17.654
R6 (Breakout Target 2) – $17.690

S1 – $17.403
S2 – $17.379
S3 (Range Support – Buy) – $17.356
S4 (Short Breakout) – $17.284
S5 (Breakout Target 1) – $17.200
S6 (Breakout Target 2) – $17.164

Copper (HG) for July delivery (1 Pound)

R1 – $2.5691
R2 – $2.5742
R3 (Range Resistance – Sell) – $2.5793
R4 (Long Breakout) – $2.5945
R5 (Breakout Target 1) – $2.6124
R6 (Breakout Target 2) – $2.6200

S1 – $2.5589
S2 – $2.5538
S3 (Range Support – Buy) – $2.5487
S4 (Short Breakout) – $2.5335
S5 (Breakout Target 1) – $2.5156
S6 (Breakout Target 2) – $2.5080

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

R1 – 914.3
R2 – 915.9
R3 (Range Resistance – Sell) – 917.6
R4 (Long Breakout) – 922.5
R5 (Breakout Target 1) – 928.3
R6 (Breakout Target 2) – 930.6

S1 – 911.0
S2 – 909.3
S3 (Range Support – Buy) – 907.7
S4 (Short Breakout) – 902.7
S5 (Breakout Target 1) – 896.9
S6 (Breakout Target 2) – 894.6

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

R1 – 367.7
R2 – 368.4
R3 (Range Resistance – Sell) – 369.0
R4 (Long Breakout) – 371.1
R5 (Breakout Target 1) – 373.4
R6 (Breakout Target 2) – 374.4

S1 – 366.3
S2 – 365.6
S3 (Range Support – Buy) – 365.0
S4 (Short Breakout) – 362.9
S5 (Breakout Target 1) – 360.6
S6 (Breakout Target 2) – 359.6

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

R1 – 430.6
R2 – 431.8
R3 (Range Resistance – Sell) – 433.0
R4 (Long Breakout) – 436.6
R5 (Breakout Target 1) – 440.7
R6 (Breakout Target 2) – 442.5

S1 – 428.2
S2 – 427.0
S3 (Range Support – Buy) – 425.8
S4 (Short Breakout) – 422.3
S5 (Breakout Target 1) – 418.1
S6 (Breakout Target 2) – 416.3

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

R1 – $3.155
R2 – $3.166
R3 (Range Resistance – Sell) – $3.176
R4 (Long Breakout) – $3.208
R5 (Breakout Target 1) – $3.244
R6 (Breakout Target 2) – $3.259

S1 – $3.135
S2 – $3.124
S3 (Range Support – Buy) – $3.114
S4 (Short Breakout) – $3.082
S5 (Breakout Target 1) – $3.046
S6 (Breakout Target 2) – $3.031

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

R1 – $49.77
R2 – $49.89
R3 (Range Resistance – Sell) – $50.00
R4 (Long Breakout) – $50.35
R5 (Breakout Target 1) – $50.75
R6 (Breakout Target 2) – $50.93

S1 – $49.55
S2 – $49.43
S3 (Range Support – Buy) – $49.32
S4 (Short Breakout) – $48.97
S5 (Breakout Target 1) – $48.57
S6 (Breakout Target 2) – $48.39

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