Commodity Market: Support and Resistance Levels for Friday (October 28th 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 – $17.656
R2 – $17.672
R3 (Range Resistance – Sell) – $17.689
R4 (Long Breakout) – $17.738
R5 (Breakout Target 1) – $17.796
R6 (Breakout Target 2) – $17.820

S1 – $17.623
S2 – $17.606
S3 (Range Support – Buy) – $17.590
S4 (Short Breakout) – $17.540
S5 (Breakout Target 1) – $17.482
S6 (Breakout Target 2) – $17.458

Copper (HG) for December delivery (1 Pound)

R1 – $2.1668
R2 – $2.1702
R3 (Range Resistance – Sell) – $2.1735
R4 (Long Breakout) – $2.1836
R5 (Breakout Target 1) – $2.1953
R6 (Breakout Target 2) – $2.2006

S1 – $2.1602
S2 – $2.1568
S3 (Range Support – Buy) – $2.1535
S4 (Short Breakout) – $2.1434
S5 (Breakout Target 1) – $2.1317
S6 (Breakout Target 2) – $2.1264

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

R1 – 1,015.8
R2 – 1,017.4
R3 (Range Resistance – Sell) – 1,019.0
R4 (Long Breakout) – 1,023.8
R5 (Breakout Target 1) – 1,029.4
R6 (Breakout Target 2) – 1,031.8

S1 – 1,012.6
S2 – 1,011.0
S3 (Range Support – Buy) – 1,009.4
S4 (Short Breakout) – 1,004.6
S5 (Breakout Target 1) – 999.0
S6 (Breakout Target 2) – 996.6

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

R1 – 358.0
R2 – 358.5
R3 (Range Resistance – Sell) – 359.1
R4 (Long Breakout) – 360.8
R5 (Breakout Target 1) – 362.8
R6 (Breakout Target 2) – 363.7

S1 – 356.8
S2 – 356.3
S3 (Range Support – Buy) – 355.7
S4 (Short Breakout) – 354.0
S5 (Breakout Target 1) – 352.0
S6 (Breakout Target 2) – 351.1

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

R1 – 415.1
R2 – 415.8
R3 (Range Resistance – Sell) – 416.4
R4 (Long Breakout) – 418.5
R5 (Breakout Target 1) – 420.8
R6 (Breakout Target 2) – 421.9

S1 – 413.7
S2 – 413.0
S3 (Range Support – Buy) – 412.4
S4 (Short Breakout) – 410.3
S5 (Breakout Target 1) – 408.0
S6 (Breakout Target 2) – 406.9

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

R1 – $3.077
R2 – $3.087
R3 (Range Resistance – Sell) – $3.096
R4 (Long Breakout) – $3.125
R5 (Breakout Target 1) – $3.158
R6 (Breakout Target 2) – $3.173

S1 – $3.059
S2 – $3.049
S3 (Range Support – Buy) – $3.040
S4 (Short Breakout) – $3.011
S5 (Breakout Target 1) – $2.978
S6 (Breakout Target 2) – $2.963

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

R1 – $49.82
R2 – $49.91
R3 (Range Resistance – Sell) – $50.01
R4 (Long Breakout) – $50.30
R5 (Breakout Target 1) – $50.64
R6 (Breakout Target 2) – $50.80

S1 – $49.62
S2 – $49.53
S3 (Range Support – Buy) – $49.43
S4 (Short Breakout) – $49.14
S5 (Breakout Target 1) – $48.80
S6 (Breakout Target 2) – $48.64

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