Commodity Market: Pivot Levels for Thursday (December 8th 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 March 2017 delivery (1 Troy Ounce)

R1 – $17.330
R2 – $17.384
R3 (Range Resistance – Sell) – $17.439
R4 (Long Breakout) – $17.602
R5 (Breakout Target 1) – $17.793
R6 (Breakout Target 2) – $17.890

S1 – $17.220
S2 – $17.166
S3 (Range Support – Buy) – $17.111
S4 (Short Breakout) – $16.948
S5 (Breakout Target 1) – $16.757
S6 (Breakout Target 2) – $16.660

Copper (HG) for March 2017 delivery (1 Pound)

R1 – $2.6515
R2 – $2.6589
R3 (Range Resistance – Sell) – $2.6664
R4 (Long Breakout) – $2.6888
R5 (Breakout Target 1) – $2.7150
R6 (Breakout Target 2) – $2.7261

S1 – $2.6365
S2 – $2.6291
S3 (Range Support – Buy) – $2.6216
S4 (Short Breakout) – $2.5992
S5 (Breakout Target 1) – $2.5730
S6 (Breakout Target 2) – $2.5619

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

R1 – 1,050.2
R2 – 1,051.5
R3 (Range Resistance – Sell) – 1,052.7
R4 (Long Breakout) – 1,056.4
R5 (Breakout Target 1) – 1,060.7
R6 (Breakout Target 2) – 1,062.5

S1 – 1,047.8
S2 – 1,046.5
S3 (Range Support – Buy) – 1,045.3
S4 (Short Breakout) – 1,041.6
S5 (Breakout Target 1) – 1,037.3
S6 (Breakout Target 2) – 1,035.5

Corn (ZC) for March 2017 delivery (in US cents per 1 Bushel)

R1 – 358.4
R2 – 358.8
R3 (Range Resistance – Sell) – 359.2
R4 (Long Breakout) – 360.4
R5 (Breakout Target 1) – 361.8
R6 (Breakout Target 2) – 362.4

S1 – 357.6
S2 – 357.2
S3 (Range Support – Buy) – 356.8
S4 (Short Breakout) – 355.6
S5 (Breakout Target 1) – 354.2
S6 (Breakout Target 2) – 353.6

Chicago Soft Red Winter Wheat (SRW) for March 2017 delivery (in US cents per 1 Bushel)

R1 – 401.7
R2 – 402.5
R3 (Range Resistance – Sell) – 403.2
R4 (Long Breakout) – 405.4
R5 (Breakout Target 1) – 408.0
R6 (Breakout Target 2) – 409.0

S1 – 400.3
S2 – 399.5
S3 (Range Support – Buy) – 398.8
S4 (Short Breakout) – 396.6
S5 (Breakout Target 1) – 394.0
S6 (Breakout Target 2) – 393.0

Natural Gas (NG) for January 2017 delivery (1 Mmbtu)

R1 – $3.621
R2 – $3.638
R3 (Range Resistance – Sell) – $3.656
R4 (Long Breakout) – $3.709
R5 (Breakout Target 1) – $3.770
R6 (Breakout Target 2) – $3.798

S1 – $3.585
S2 – $3.568
S3 (Range Support – Buy) – $3.550
S4 (Short Breakout) – $3.497
S5 (Breakout Target 1) – $3.436
S6 (Breakout Target 2) – $3.408

Crude Oil (CL) for January 2017 delivery (1 Barrel)

R1 – $49.91
R2 – $50.04
R3 (Range Resistance – Sell) – $50.18
R4 (Long Breakout) – $50.58
R5 (Breakout Target 1) – $51.06
R6 (Breakout Target 2) – $51.25

S1 – $49.63
S2 – $49.50
S3 (Range Support – Buy) – $49.36
S4 (Short Breakout) – $48.96
S5 (Breakout Target 1) – $48.48
S6 (Breakout Target 2) – $48.29

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