Commodity Market: Support and Resistance Levels for Friday (November 4th 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 – $18.476
R2 – $18.535
R3 (Range Resistance – Sell) – $18.595
R4 (Long Breakout) – $18.774
R5 (Breakout Target 1) – $18.982
R6 (Breakout Target 2) – $19.081

S1 – $18.356
S2 – $18.297
S3 (Range Support – Buy) – $18.237
S4 (Short Breakout) – $18.059
S5 (Breakout Target 1) – $17.850
S6 (Breakout Target 2) – $17.751

Copper (HG) for December delivery (1 Pound)

R1 – $2.2523
R2 – $2.2555
R3 (Range Resistance – Sell) – $2.2588
R4 (Long Breakout) – $2.2685
R5 (Breakout Target 1) – $2.2799
R6 (Breakout Target 2) – $2.2850

S1 – $2.2457
S2 – $2.2425
S3 (Range Support – Buy) – $2.2392
S4 (Short Breakout) – $2.2295
S5 (Breakout Target 1) – $2.2181
S6 (Breakout Target 2) – $2.2130

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

R1 – 990.2
R2 – 991.0
R3 (Range Resistance – Sell) – 991.8
R4 (Long Breakout) – 994.1
R5 (Breakout Target 1) – 996.9
R6 (Breakout Target 2) – 998.0

S1 – 988.6
S2 – 987.8
S3 (Range Support – Buy) – 987.0
S4 (Short Breakout) – 984.7
S5 (Breakout Target 1) – 981.9
S6 (Breakout Target 2) – 980.8

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

R1 – 348.3
R2 – 348.7
R3 (Range Resistance – Sell) – 349.0
R4 (Long Breakout) – 350.0
R5 (Breakout Target 1) – 351.1
R6 (Breakout Target 2) – 351.6

S1 – 347.7
S2 – 347.3
S3 (Range Support – Buy) – 347.0
S4 (Short Breakout) – 346.0
S5 (Breakout Target 1) – 344.9
S6 (Breakout Target 2) – 344.4

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

R1 – 413.0
R2 – 414.0
R3 (Range Resistance – Sell) – 415.0
R4 (Long Breakout) – 418.1
R5 (Breakout Target 1) – 421.6
R6 (Breakout Target 2) – 423.1

S1 – 411.0
S2 – 410.0
S3 (Range Support – Buy) – 409.0
S4 (Short Breakout) – 406.0
S5 (Breakout Target 1) – 402.4
S6 (Breakout Target 2) – 400.9

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

R1 – $2.780
R2 – $2.790
R3 (Range Resistance – Sell) – $2.801
R4 (Long Breakout) – $2.832
R5 (Breakout Target 1) – $2.869
R6 (Breakout Target 2) – $2.886

S1 – $2.758
S2 – $2.748
S3 (Range Support – Buy) – $2.737
S4 (Short Breakout) – $2.706
S5 (Breakout Target 1) – $2.669
S6 (Breakout Target 2) – $2.652

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

R1 – $44.80
R2 – $44.94
R3 (Range Resistance – Sell) – $45.08
R4 (Long Breakout) – $45.50
R5 (Breakout Target 1) – $45.99
R6 (Breakout Target 2) – $46.20

S1 – $44.52
S2 – $44.38
S3 (Range Support – Buy) – $44.24
S4 (Short Breakout) – $43.82
S5 (Breakout Target 1) – $43.33
S6 (Breakout Target 2) – $43.12

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