Commodity Market: Pivot Levels for Thursday (December 15th 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 – $17.265
R2 – $17.310
R3 (Range Resistance – Sell) – $17.354
R4 (Long Breakout) – $17.488
R5 (Breakout Target 1) – $17.644
R6 (Breakout Target 2) – $17.718

S1 – $17.177
S2 – $17.132
S3 (Range Support – Buy) – $17.088
S4 (Short Breakout) – $16.954
S5 (Breakout Target 1) – $16.798
S6 (Breakout Target 2) – $16.724

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

R1 – $2.6114
R2 – $2.6183
R3 (Range Resistance – Sell) – $2.6251
R4 (Long Breakout) – $2.6458
R5 (Breakout Target 1) – $2.6698
R6 (Breakout Target 2) – $2.6805

S1 – $2.5976
S2 – $2.5908
S3 (Range Support – Buy) – $2.5839
S4 (Short Breakout) – $2.5633
S5 (Breakout Target 1) – $2.5392
S6 (Breakout Target 2) – $2.5285

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

R1 – 1,024.4
R2 – 1,025.2
R3 (Range Resistance – Sell) – 1,026.0
R4 (Long Breakout) – 1,028.3
R5 (Breakout Target 1) – 1,031.1
R6 (Breakout Target 2) – 1,032.2

S1 – 1,022.8
S2 – 1,022.0
S3 (Range Support – Buy) – 1,021.2
S4 (Short Breakout) – 1,018.9
S5 (Breakout Target 1) – 1,016.1
S6 (Breakout Target 2) – 1,015.0

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

R1 – 362.3
R2 – 362.7
R3 (Range Resistance – Sell) – 363.0
R4 (Long Breakout) – 364.1
R5 (Breakout Target 1) – 365.3
R6 (Breakout Target 2) – 365.8

S1 – 361.7
S2 – 361.3
S3 (Range Support – Buy) – 361.0
S4 (Short Breakout) – 359.9
S5 (Breakout Target 1) – 358.7
S6 (Breakout Target 2) – 358.2

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

R1 – 418.5
R2 – 419.0
R3 (Range Resistance – Sell) – 419.5
R4 (Long Breakout) – 421.0
R5 (Breakout Target 1) – 422.7
R6 (Breakout Target 2) – 423.5

S1 – 417.5
S2 – 417.0
S3 (Range Support – Buy) – 416.5
S4 (Short Breakout) – 415.0
S5 (Breakout Target 1) – 413.3
S6 (Breakout Target 2) – 412.5

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

R1 – $3.552
R2 – $3.563
R3 (Range Resistance – Sell) – $3.575
R4 (Long Breakout) – $3.610
R5 (Breakout Target 1) – $3.652
R6 (Breakout Target 2) – $3.672

S1 – $3.528
S2 – $3.517
S3 (Range Support – Buy) – $3.505
S4 (Short Breakout) – $3.470
S5 (Breakout Target 1) – $3.428
S6 (Breakout Target 2) – $3.408

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

R1 – $51.23
R2 – $51.43
R3 (Range Resistance – Sell) – $51.62
R4 (Long Breakout) – $52.20
R5 (Breakout Target 1) – $52.88
R6 (Breakout Target 2) – $53.17

S1 – $50.85
S2 – $50.65
S3 (Range Support – Buy) – $50.46
S4 (Short Breakout) – $49.88
S5 (Breakout Target 1) – $49.20
S6 (Breakout Target 2) – $48.91

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