Commodity Market: Pivot Levels for Thursday (May 18th 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 July delivery (1 Troy Ounce)

R1 – $16.932
R2 – $16.957
R3 (Range Resistance – Sell) – $16.983
R4 (Long Breakout) – $17.060
R5 (Breakout Target 1) – $17.150
R6 (Breakout Target 2) – $17.189

S1 – $16.880
S2 – $16.855
S3 (Range Support – Buy) – $16.829
S4 (Short Breakout) – $16.752
S5 (Breakout Target 1) – $16.662
S6 (Breakout Target 2) – $16.623

Copper (HG) for July delivery (1 Pound)

R1 – $2.5495
R2 – $2.5526
R3 (Range Resistance – Sell) – $2.5556
R4 (Long Breakout) – $2.5647
R5 (Breakout Target 1) – $2.5752
R6 (Breakout Target 2) – $2.5798

S1 – $2.5435
S2 – $2.5405
S3 (Range Support – Buy) – $2.5374
S4 (Short Breakout) – $2.5284
S5 (Breakout Target 1) – $2.5178
S6 (Breakout Target 2) – $2.5132

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

R1 – 976.2
R2 – 976.9
R3 (Range Resistance – Sell) – 977.5
R4 (Long Breakout) – 979.5
R5 (Breakout Target 1) – 981.7
R6 (Breakout Target 2) – 982.6

S1 – 975.0
S2 – 974.3
S3 (Range Support – Buy) – 973.7
S4 (Short Breakout) – 971.8
S5 (Breakout Target 1) – 969.5
S6 (Breakout Target 2) – 968.6

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

R1 – 372.0
R2 – 372.5
R3 (Range Resistance – Sell) – 373.1
R4 (Long Breakout) – 374.7
R5 (Breakout Target 1) – 376.6
R6 (Breakout Target 2) – 377.5

S1 – 370.9
S2 – 370.3
S3 (Range Support – Buy) – 369.8
S4 (Short Breakout) – 368.1
S5 (Breakout Target 1) – 366.2
S6 (Breakout Target 2) – 365.3

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

R1 – 428.0
R2 – 429.0
R3 (Range Resistance – Sell) – 430.0
R4 (Long Breakout) – 432.9
R5 (Breakout Target 1) – 436.4
R6 (Breakout Target 2) – 437.9

S1 – 426.0
S2 – 425.0
S3 (Range Support – Buy) – 424.0
S4 (Short Breakout) – 421.1
S5 (Breakout Target 1) – 417.6
S6 (Breakout Target 2) – 416.1

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

R1 – $3.202
R2 – $3.211
R3 (Range Resistance – Sell) – $3.221
R4 (Long Breakout) – $3.249
R5 (Breakout Target 1) – $3.283
R6 (Breakout Target 2) – $3.297

S1 – $3.182
S2 – $3.173
S3 (Range Support – Buy) – $3.163
S4 (Short Breakout) – $3.135
S5 (Breakout Target 1) – $3.101
S6 (Breakout Target 2) – $3.087

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

R1 – $49.20
R2 – $49.34
R3 (Range Resistance – Sell) – $49.47
R4 (Long Breakout) – $49.88
R5 (Breakout Target 1) – $50.35
R6 (Breakout Target 2) – $50.57

S1 – $48.94
S2 – $48.80
S3 (Range Support – Buy) – $48.67
S4 (Short Breakout) – $48.26
S5 (Breakout Target 1) – $47.79
S6 (Breakout Target 2) – $47.57

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