Commodity Market: Support and Resistance Levels for Monday (October 31st 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 – $17.835
R2 – $17.875
R3 (Range Resistance – Sell) – $17.914
R4 (Long Breakout) – $18.033
R5 (Breakout Target 1) – $18.171
R6 (Breakout Target 2) – $18.233

S1 – $17.757
S2 – $17.717
S3 (Range Support – Buy) – $17.678
S4 (Short Breakout) – $17.560
S5 (Breakout Target 1) – $17.421
S6 (Breakout Target 2) – $17.359

Copper (HG) for December delivery (1 Pound)

R1 – $2.1973
R2 – $2.2010
R3 (Range Resistance – Sell) – $2.2048
R4 (Long Breakout) – $2.2161
R5 (Breakout Target 1) – $2.2292
R6 (Breakout Target 2) – $2.2352

S1 – $2.1897
S2 – $2.1860
S3 (Range Support – Buy) – $2.1822
S4 (Short Breakout) – $2.1710
S5 (Breakout Target 1) – $2.1578
S6 (Breakout Target 2) – $2.1518

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

R1 – 1,013.7
R2 – 1,015.3
R3 (Range Resistance – Sell) – 1,017.0
R4 (Long Breakout) – 1,021.9
R5 (Breakout Target 1) – 1,027.7
R6 (Breakout Target 2) – 1,030.0

S1 – 1,010.4
S2 – 1,008.7
S3 (Range Support – Buy) – 1,007.1
S4 (Short Breakout) – 1,002.1
S5 (Breakout Target 1) – 996.3
S6 (Breakout Target 2) – 994.0

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

R1 – 355.4
R2 – 355.7
R3 (Range Resistance – Sell) – 356.1
R4 (Long Breakout) – 357.2
R5 (Breakout Target 1) – 358.5
R6 (Breakout Target 2) – 359.0

S1 – 354.6
S2 – 354.3
S3 (Range Support – Buy) – 353.9
S4 (Short Breakout) – 352.8
S5 (Breakout Target 1) – 351.5
S6 (Breakout Target 2) – 351.0

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

R1 – 409.3
R2 – 410.3
R3 (Range Resistance – Sell) – 411.2
R4 (Long Breakout) – 414.0
R5 (Breakout Target 1) – 417.3
R6 (Breakout Target 2) – 418.6

S1 – 407.5
S2 – 406.5
S3 (Range Support – Buy) – 405.6
S4 (Short Breakout) – 402.8
S5 (Breakout Target 1) – 399.5
S6 (Breakout Target 2) – 398.2

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

R1 – $3.115
R2 – $3.125
R3 (Range Resistance – Sell) – $3.135
R4 (Long Breakout) – $3.165
R5 (Breakout Target 1) – $3.200
R6 (Breakout Target 2) – $3.217

S1 – $3.095
S2 – $3.085
S3 (Range Support – Buy) – $3.075
S4 (Short Breakout) – $3.045
S5 (Breakout Target 1) – $3.010
S6 (Breakout Target 2) – $2.993

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

R1 – $48.83
R2 – $48.95
R3 (Range Resistance – Sell) – $49.08
R4 (Long Breakout) – $49.46
R5 (Breakout Target 1) – $49.91
R6 (Breakout Target 2) – $50.10

S1 – $48.57
S2 – $48.45
S3 (Range Support – Buy) – $48.32
S4 (Short Breakout) – $47.94
S5 (Breakout Target 1) – $47.49
S6 (Breakout Target 2) – $47.30

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