Commodity Market: Support and Resistance Levels for Thursday (November 17th 2016)

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

R1 – $16.962
R2 – $16.997
R3 (Range Resistance – Sell) – $17.032
R4 (Long Breakout) – $17.136
R5 (Breakout Target 1) – $17.258
R6 (Breakout Target 2) – $17.309

S1 – $16.892
S2 – $16.857
S3 (Range Support – Buy) – $16.823
S4 (Short Breakout) – $16.718
S5 (Breakout Target 1) – $16.596
S6 (Breakout Target 2) – $16.545

Copper (HG) for December delivery (1 Pound)

R1 – $2.4737
R2 – $2.4800
R3 (Range Resistance – Sell) – $2.4861
R4 (Long Breakout) – $2.5046
R5 (Breakout Target 1) – $2.5263
R6 (Breakout Target 2) – $2.5356

S1 – $2.4613
S2 – $2.4551
S3 (Range Support – Buy) – $2.4489
S4 (Short Breakout) – $2.4304
S5 (Breakout Target 1) – $2.4087
S6 (Breakout Target 2) – $2.3994

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

R1 – 987.0
R2 – 988.4
R3 (Range Resistance – Sell) – 989.7
R4 (Long Breakout) – 993.9
R5 (Breakout Target 1) – 998.7
R6 (Breakout Target 2) – 1,000.6

S1 – 984.2
S2 – 982.9
S3 (Range Support – Buy) – 981.5
S4 (Short Breakout) – 977.4
S5 (Breakout Target 1) – 972.5
S6 (Breakout Target 2) – 970.6

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

R1 – 338.9
R2 – 339.3
R3 (Range Resistance – Sell) – 339.8
R4 (Long Breakout) – 341.2
R5 (Breakout Target 1) – 342.8
R6 (Breakout Target 2) – 343.4

S1 – 337.9
S2 – 337.5
S3 (Range Support – Buy) – 337.0
S4 (Short Breakout) – 335.7
S5 (Breakout Target 1) – 334.0
S6 (Breakout Target 2) – 333.4

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

R1 – 414.8
R2 – 415.4
R3 (Range Resistance – Sell) – 416.0
R4 (Long Breakout) – 417.7
R5 (Breakout Target 1) – 419.8
R6 (Breakout Target 2) – 420.6

S1 – 413.6
S2 – 413.0
S3 (Range Support – Buy) – 412.4
S4 (Short Breakout) – 410.7
S5 (Breakout Target 1) – 408.6
S6 (Breakout Target 2) – 407.8

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

R1 – $2.774
R2 – $2.785
R3 (Range Resistance – Sell) – $2.795
R4 (Long Breakout) – $2.826
R5 (Breakout Target 1) – $2.862
R6 (Breakout Target 2) – $2.881

S1 – $2.754
S2 – $2.743
S3 (Range Support – Buy) – $2.733
S4 (Short Breakout) – $2.702
S5 (Breakout Target 1) – $2.666
S6 (Breakout Target 2) – $2.647

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

R1 – $45.70
R2 – $45.82
R3 (Range Resistance – Sell) – $45.95
R4 (Long Breakout) – $46.33
R5 (Breakout Target 1) – $46.77
R6 (Breakout Target 2) – $46.97

S1 – $45.44
S2 – $45.32
S3 (Range Support – Buy) – $45.19
S4 (Short Breakout) – $44.81
S5 (Breakout Target 1) – $44.37
S6 (Breakout Target 2) – $44.17