Commodity Market: Pivot Levels for Thursday (March 23rd 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 May delivery (1 Troy Ounce)

R1 – $17.591
R2 – $17.605
R3 (Range Resistance – Sell) – $17.618
R4 (Long Breakout) – $17.658
R5 (Breakout Target 1) – $17.704
R6 (Breakout Target 2) – $17.724

S1 – $17.565
S2 – $17.551
S3 (Range Support – Buy) – $17.538
S4 (Short Breakout) – $17.498
S5 (Breakout Target 1) – $17.452
S6 (Breakout Target 2) – $17.432

Copper (HG) for May delivery (1 Pound)

R1 – $2.6355
R2 – $2.6405
R3 (Range Resistance – Sell) – $2.6455
R4 (Long Breakout) – $2.6605
R5 (Breakout Target 1) – $2.6780
R6 (Breakout Target 2) – $2.6859

S1 – $2.6255
S2 – $2.6205
S3 (Range Support – Buy) – $2.6155
S4 (Short Breakout) – $2.6005
S5 (Breakout Target 1) – $2.5830
S6 (Breakout Target 2) – $2.5751

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

R1 – 1,000.4
R2 – 1,001.3
R3 (Range Resistance – Sell) – 1,002.1
R4 (Long Breakout) – 1,004.7
R5 (Breakout Target 1) – 1,007.6
R6 (Breakout Target 2) – 1,008.9

S1 – 998.8
S2 – 997.9
S3 (Range Support – Buy) – 997.1
S4 (Short Breakout) – 994.5
S5 (Breakout Target 1) – 991.6
S6 (Breakout Target 2) – 990.3

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

R1 – 358.9
R2 – 359.2
R3 (Range Resistance – Sell) – 359.5
R4 (Long Breakout) – 360.5
R5 (Breakout Target 1) – 361.6
R6 (Breakout Target 2) – 362.0

S1 – 358.3
S2 – 358.0
S3 (Range Support – Buy) – 357.7
S4 (Short Breakout) – 356.7
S5 (Breakout Target 1) – 355.6
S6 (Breakout Target 2) – 355.2

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

R1 – 422.8
R2 – 423.3
R3 (Range Resistance – Sell) – 423.9
R4 (Long Breakout) – 425.5
R5 (Breakout Target 1) – 427.4
R6 (Breakout Target 2) – 428.2

S1 – 421.7
S2 – 421.1
S3 (Range Support – Buy) – 420.6
S4 (Short Breakout) – 418.9
S5 (Breakout Target 1) – 417.0
S6 (Breakout Target 2) – 416.2

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

R1 – $3.019
R2 – $3.027
R3 (Range Resistance – Sell) – $3.035
R4 (Long Breakout) – $3.059
R5 (Breakout Target 1) – $3.088
R6 (Breakout Target 2) – $3.099

S1 – $3.003
S2 – $2.995
S3 (Range Support – Buy) – $2.987
S4 (Short Breakout) – $2.963
S5 (Breakout Target 1) – $2.934
S6 (Breakout Target 2) – $2.923

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

R1 – $48.16
R2 – $48.28
R3 (Range Resistance – Sell) – $48.40
R4 (Long Breakout) – $48.76
R5 (Breakout Target 1) – $49.18
R6 (Breakout Target 2) – $49.38

S1 – $47.92
S2 – $47.80
S3 (Range Support – Buy) – $47.68
S4 (Short Breakout) – $47.32
S5 (Breakout Target 1) – $46.90
S6 (Breakout Target 2) – $46.70

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