Commodity Market: Support and Resistance Levels for Wednesday (October 19th 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 December delivery (1 Troy Ounce)

R1 – $17.663
R2 – $17.688
R3 (Range Resistance – Sell) – $17.714
R4 (Long Breakout) – $17.789
R5 (Breakout Target 1) – $17.878
R6 (Breakout Target 2) – $17.916

S1 – $17.613
S2 – $17.588
S3 (Range Support – Buy) – $17.562
S4 (Short Breakout) – $17.487
S5 (Breakout Target 1) – $17.398
S6 (Breakout Target 2) – $17.360

Copper (HG) for December delivery (1 Pound)

R1 – $2.1084
R2 – $2.1113
R3 (Range Resistance – Sell) – $2.1142
R4 (Long Breakout) – $2.1228
R5 (Breakout Target 1) – $2.1329
R6 (Breakout Target 2) – $2.1372

S1 – $2.1026
S2 – $2.0997
S3 (Range Support – Buy) – $2.0968
S4 (Short Breakout) – $2.0882
S5 (Breakout Target 1) – $2.0781
S6 (Breakout Target 2) – $2.0738

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

R1 – 973.8
R2 – 975.3
R3 (Range Resistance – Sell) – 976.7
R4 (Long Breakout) – 981.0
R5 (Breakout Target 1) – 986.0
R6 (Breakout Target 2) – 988.0

S1 – 971.0
S2 – 969.5
S3 (Range Support – Buy) – 968.1
S4 (Short Breakout) – 963.8
S5 (Breakout Target 1) – 958.8
S6 (Breakout Target 2) – 956.8

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

R1 – 354.2
R2 – 354.7
R3 (Range Resistance – Sell) – 355.3
R4 (Long Breakout) – 356.9
R5 (Breakout Target 1) – 358.8
R6 (Breakout Target 2) – 359.6

S1 – 353.1
S2 – 352.5
S3 (Range Support – Buy) – 352.0
S4 (Short Breakout) – 350.3
S5 (Breakout Target 1) – 348.4
S6 (Breakout Target 2) – 347.6

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

R1 – $3.269
R2 – $3.276
R3 (Range Resistance – Sell) – $3.282
R4 (Long Breakout) – $3.301
R5 (Breakout Target 1) – $3.323
R6 (Breakout Target 2) – $3.332

S1 – $3.257
S2 – $3.250
S3 (Range Support – Buy) – $3.244
S4 (Short Breakout) – $3.225
S5 (Breakout Target 1) – $3.203
S6 (Breakout Target 2) – $3.194

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

R1 – $50.38
R2 – $50.48
R3 (Range Resistance – Sell) – $50.57
R4 (Long Breakout) – $50.85
R5 (Breakout Target 1) – $51.18
R6 (Breakout Target 2) – $51.32

S1 – $50.20
S2 – $50.10
S3 (Range Support – Buy) – $50.01
S4 (Short Breakout) – $49.73
S5 (Breakout Target 1) – $49.40
S6 (Breakout Target 2) – $49.26

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