Commodity Market: Pivot Levels for Thursday (February 16th 2017)

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 delivery (1 Troy Ounce)

R1 – $17.985
R2 – $18.006
R3 (Range Resistance – Sell) – $18.028
R4 (Long Breakout) – $18.092
R5 (Breakout Target 1) – $18.168
R6 (Breakout Target 2) – $18.201

S1 – $17.941
S2 – $17.920
S3 (Range Support – Buy) – $17.898
S4 (Short Breakout) – $17.834
S5 (Breakout Target 1) – $17.758
S6 (Breakout Target 2) – $17.725

Copper (HG) for March delivery (1 Pound)

R1 – $2.7439
R2 – $2.7473
R3 (Range Resistance – Sell) – $2.7507
R4 (Long Breakout) – $2.7609
R5 (Breakout Target 1) – $2.7727
R6 (Breakout Target 2) – $2.7778

S1 – $2.7371
S2 – $2.7337
S3 (Range Support – Buy) – $2.7303
S4 (Short Breakout) – $2.7202
S5 (Breakout Target 1) – $2.7083
S6 (Breakout Target 2) – $2.7032

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

R1 – 1,063.1
R2 – 1,065.1
R3 (Range Resistance – Sell) – 1,067.0
R4 (Long Breakout) – 1,072.9
R5 (Breakout Target 1) – 1,079.7
R6 (Breakout Target 2) – 1,082.8

S1 – 1,059.3
S2 – 1,057.3
S3 (Range Support – Buy) – 1,055.4
S4 (Short Breakout) – 1,049.5
S5 (Breakout Target 1) – 1,042.7
S6 (Breakout Target 2) – 1,039.6

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

R1 – 379.3
R2 – 380.0
R3 (Range Resistance – Sell) – 380.6
R4 (Long Breakout) – 382.7
R5 (Breakout Target 1) – 385.0
R6 (Breakout Target 2) – 386.1

S1 – 377.9
S2 – 377.2
S3 (Range Support – Buy) – 376.6
S4 (Short Breakout) – 374.5
S5 (Breakout Target 1) – 372.2
S6 (Breakout Target 2) – 371.1

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

R1 – 455.4
R2 – 456.3
R3 (Range Resistance – Sell) – 457.1
R4 (Long Breakout) – 459.7
R5 (Breakout Target 1) – 462.6
R6 (Breakout Target 2) – 464.0

S1 – 453.8
S2 – 452.9
S3 (Range Support – Buy) – 452.1
S4 (Short Breakout) – 449.5
S5 (Breakout Target 1) – 446.6
S6 (Breakout Target 2) – 445.2

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

R1 – $2.932
R2 – $2.940
R3 (Range Resistance – Sell) – $2.947
R4 (Long Breakout) – $2.970
R5 (Breakout Target 1) – $2.996
R6 (Breakout Target 2) – $3.006

S1 – $2.918
S2 – $2.910
S3 (Range Support – Buy) – $2.903
S4 (Short Breakout) – $2.880
S5 (Breakout Target 1) – $2.854
S6 (Breakout Target 2) – $2.844

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

R1 – $53.18
R2 – $53.25
R3 (Range Resistance – Sell) – $53.32
R4 (Long Breakout) – $53.54
R5 (Breakout Target 1) – $53.79
R6 (Breakout Target 2) – $53.90

S1 – $53.04
S2 – $52.97
S3 (Range Support – Buy) – $52.90
S4 (Short Breakout) – $52.68
S5 (Breakout Target 1) – $52.43
S6 (Breakout Target 2) – $52.32

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