Commodity Market: Support and Resistance Levels for Wednesday (November 9th 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 – $18.407
R2 – $18.458
R3 (Range Resistance – Sell) – $18.509
R4 (Long Breakout) – $18.661
R5 (Breakout Target 1) – $18.840
R6 (Breakout Target 2) – $18.917

S1 – $18.305
S2 – $18.254
S3 (Range Support – Buy) – $18.203
S4 (Short Breakout) – $18.051
S5 (Breakout Target 1) – $17.872
S6 (Breakout Target 2) – $17.795

Copper (HG) for December delivery (1 Pound)

R1 – $2.3885
R2 – $2.3970
R3 (Range Resistance – Sell) – $2.4054
R4 (Long Breakout) – $2.4309
R5 (Breakout Target 1) – $2.4606
R6 (Breakout Target 2) – $2.4761

S1 – $2.3715
S2 – $2.3630
S3 (Range Support – Buy) – $2.3546
S4 (Short Breakout) – $2.3291
S5 (Breakout Target 1) – $2.2994
S6 (Breakout Target 2) – $2.2839

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

R1 – 1,013.4
R2 – 1,015.5
R3 (Range Resistance – Sell) – 1,017.7
R4 (Long Breakout) – 1,024.2
R5 (Breakout Target 1) – 1,031.8
R6 (Breakout Target 2) – 1,035.1

S1 – 1,009.0
S2 – 1,006.9
S3 (Range Support – Buy) – 1,004.7
S4 (Short Breakout) – 998.2
S5 (Breakout Target 1) – 990.6
S6 (Breakout Target 2) – 987.3

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

R1 – 355.2
R2 – 356.3
R3 (Range Resistance – Sell) – 357.3
R4 (Long Breakout) – 360.5
R5 (Breakout Target 1) – 364.1
R6 (Breakout Target 2) – 365.9

S1 – 353.2
S2 – 352.1
S3 (Range Support – Buy) – 351.1
S4 (Short Breakout) – 347.9
S5 (Breakout Target 1) – 344.3
S6 (Breakout Target 2) – 342.5

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

R1 – 416.2
R2 – 417.3
R3 (Range Resistance – Sell) – 418.3
R4 (Long Breakout) – 421.5
R5 (Breakout Target 1) – 425.1
R6 (Breakout Target 2) – 426.8

S1 – 414.2
S2 – 413.1
S3 (Range Support – Buy) – 412.1
S4 (Short Breakout) – 408.9
S5 (Breakout Target 1) – 405.3
S6 (Breakout Target 2) – 403.6

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

R1 – $2.656
R2 – $2.679
R3 (Range Resistance – Sell) – $2.701
R4 (Long Breakout) – $2.770
R5 (Breakout Target 1) – $2.850
R6 (Breakout Target 2) – $2.884

S1 – $2.610
S2 – $2.587
S3 (Range Support – Buy) – $2.565
S4 (Short Breakout) – $2.496
S5 (Breakout Target 1) – $2.416
S6 (Breakout Target 2) – $2.382

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

R1 – $45.07
R2 – $45.16
R3 (Range Resistance – Sell) – $45.25
R4 (Long Breakout) – $45.52
R5 (Breakout Target 1) – $45.83
R6 (Breakout Target 2) – $45.97

S1 – $44.89
S2 – $44.80
S3 (Range Support – Buy) – $44.71
S4 (Short Breakout) – $44.44
S5 (Breakout Target 1) – $44.13
S6 (Breakout Target 2) – $43.99

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