Commodity Market: Support and Resistance Levels for Wednesday (November 16th 2016)

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

R1 – $17.072
R2 – $17.101
R3 (Range Resistance – Sell) – $17.130
R4 (Long Breakout) – $17.216
R5 (Breakout Target 1) – $17.317
R6 (Breakout Target 2) – $17.362

S1 – $17.014
S2 – $16.985
S3 (Range Support – Buy) – $16.956
S4 (Short Breakout) – $16.870
S5 (Breakout Target 1) – $16.769
S6 (Breakout Target 2) – $16.724

Copper (HG) for December delivery (1 Pound)

R1 – $2.5182
R2 – $2.5314
R3 (Range Resistance – Sell) – $2.5446
R4 (Long Breakout) – $2.5842
R5 (Breakout Target 1) – $2.6305
R6 (Breakout Target 2) – $2.6537

S1 – $2.4918
S2 – $2.4786
S3 (Range Support – Buy) – $2.4654
S4 (Short Breakout) – $2.4258
S5 (Breakout Target 1) – $2.3795
S6 (Breakout Target 2) – $2.3563

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

R1 – 990.7
R2 – 992.0
R3 (Range Resistance – Sell) – 993.3
R4 (Long Breakout) – 997.1
R5 (Breakout Target 1) – 1,001.6
R6 (Breakout Target 2) – 1,003.6

S1 – 988.1
S2 – 986.8
S3 (Range Support – Buy) – 985.6
S4 (Short Breakout) – 981.7
S5 (Breakout Target 1) – 977.2
S6 (Breakout Target 2) – 975.2

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

R1 – 342.0
R2 – 342.6
R3 (Range Resistance – Sell) – 343.2
R4 (Long Breakout) – 345.0
R5 (Breakout Target 1) – 347.1
R6 (Breakout Target 2) – 348.1

S1 – 340.8
S2 – 340.2
S3 (Range Support – Buy) – 339.6
S4 (Short Breakout) – 337.8
S5 (Breakout Target 1) – 335.7
S6 (Breakout Target 2) – 334.7

Chicago Soft Red Winter Wheat (SRW) for March 2017 delivery (in US cents per 1 Bushel)

R1 – 419.4
R2 – 420.3
R3 (Range Resistance – Sell) – 421.1
R4 (Long Breakout) – 423.7
R5 (Breakout Target 1) – 426.6
R6 (Breakout Target 2) – 428.0

S1 – 417.8
S2 – 416.9
S3 (Range Support – Buy) – 416.1
S4 (Short Breakout) – 413.5
S5 (Breakout Target 1) – 410.6
S6 (Breakout Target 2) – 409.2

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

R1 – $2.721
R2 – $2.732
R3 (Range Resistance – Sell) – $2.744
R4 (Long Breakout) – $2.779
R5 (Breakout Target 1) – $2.821
R6 (Breakout Target 2) – $2.838

S1 – $2.697
S2 – $2.686
S3 (Range Support – Buy) – $2.674
S4 (Short Breakout) – $2.639
S5 (Breakout Target 1) – $2.597
S6 (Breakout Target 2) – $2.580

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

R1 – $46.04
R2 – $46.28
R3 (Range Resistance – Sell) – $46.51
R4 (Long Breakout) – $47.21
R5 (Breakout Target 1) – $48.02
R6 (Breakout Target 2) – $48.48

S1 – $45.58
S2 – $45.34
S3 (Range Support – Buy) – $45.11
S4 (Short Breakout) – $44.41
S5 (Breakout Target 1) – $43.60
S6 (Breakout Target 2) – $43.14