Commodity Market: Support and Resistance Levels for Wednesday (November 2nd 2016)

Silver (SI) for December delivery (1 Troy Ounce)

R1 – $18.479
R2 – $18.539
R3 (Range Resistance – Sell) – $18.600
R4 (Long Breakout) – $18.781
R5 (Breakout Target 1) – $18.993
R6 (Breakout Target 2) – $19.099

S1 – $18.358
S2 – $18.297
S3 (Range Support – Buy) – $18.237
S4 (Short Breakout) – $18.055
S5 (Breakout Target 1) – $17.843
S6 (Breakout Target 2) – $17.737

Copper (HG) for December delivery (1 Pound)

R1 – $2.2322
R2 – $2.2353
R3 (Range Resistance – Sell) – $2.2385
R4 (Long Breakout) – $2.2480
R5 (Breakout Target 1) – $2.2591
R6 (Breakout Target 2) – $2.2640

S1 – $2.2258
S2 – $2.2227
S3 (Range Support – Buy) – $2.2195
S4 (Short Breakout) – $2.2100
S5 (Breakout Target 1) – $2.1989
S6 (Breakout Target 2) – $2.1940

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

R1 – 995.4
R2 – 997.7
R3 (Range Resistance – Sell) – 1,000.0
R4 (Long Breakout) – 1,006.6
R5 (Breakout Target 1) – 1,014.5
R6 (Breakout Target 2) – 1,017.6

S1 – 991.0
S2 – 988.7
S3 (Range Support – Buy) – 986.5
S4 (Short Breakout) – 979.8
S5 (Breakout Target 1) – 971.9
S6 (Breakout Target 2) – 968.8

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

R1 – 349.7
R2 – 350.4
R3 (Range Resistance – Sell) – 351.0
R4 (Long Breakout) – 353.1
R5 (Breakout Target 1) – 355.4
R6 (Breakout Target 2) – 356.4

S1 – 348.3
S2 – 347.6
S3 (Range Support – Buy) – 347.0
S4 (Short Breakout) – 344.9
S5 (Breakout Target 1) – 342.6
S6 (Breakout Target 2) – 341.6

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

R1 – 414.9
R2 – 415.6
R3 (Range Resistance – Sell) – 416.3
R4 (Long Breakout) – 418.4
R5 (Breakout Target 1) – 420.8
R6 (Breakout Target 2) – 421.9

S1 – 413.5
S2 – 412.8
S3 (Range Support – Buy) – 412.1
S4 (Short Breakout) – 410.0
S5 (Breakout Target 1) – 407.6
S6 (Breakout Target 2) – 406.5

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

R1 – $2.918
R2 – $2.935
R3 (Range Resistance – Sell) – $2.951
R4 (Long Breakout) – $3.000
R5 (Breakout Target 1) – $3.058
R6 (Breakout Target 2) – $3.084

S1 – $2.886
S2 – $2.869
S3 (Range Support – Buy) – $2.853
S4 (Short Breakout) – $2.804
S5 (Breakout Target 1) – $2.746
S6 (Breakout Target 2) – $2.720

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

R1 – $46.78
R2 – $46.88
R3 (Range Resistance – Sell) – $46.99
R4 (Long Breakout) – $47.30
R5 (Breakout Target 1) – $47.67
R6 (Breakout Target 2) – $47.83

S1 – $46.56
S2 – $46.46
S3 (Range Support – Buy) – $46.35
S4 (Short Breakout) – $46.04
S5 (Breakout Target 1) – $45.67
S6 (Breakout Target 2) – $45.51