Commodity Market: Support and Resistance Levels for Wednesday (November 23rd 2016)

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

R1 – $16.665
R2 – $16.700
R3 (Range Resistance – Sell) – $16.732
R4 (Long Breakout) – $16.833
R5 (Breakout Target 1) – $16.950
R6 (Breakout Target 2) – $17.000

S1 – $16.600
S2 – $16.565
S3 (Range Support – Buy) – $16.532
S4 (Short Breakout) – $16.431
S5 (Breakout Target 1) – $16.314
S6 (Breakout Target 2) – $16.265

Copper (HG) for December delivery (1 Pound)

R1 – $2.5500
R2 – $2.5553
R3 (Range Resistance – Sell) – $2.5607
R4 (Long Breakout) – $2.5770
R5 (Breakout Target 1) – $2.5959
R6 (Breakout Target 2) – $2.6042

S1 – $2.5391
S2 – $2.5337
S3 (Range Support – Buy) – $2.5283
S4 (Short Breakout) – $2.5121
S5 (Breakout Target 1) – $2.4931
S6 (Breakout Target 2) – $2.4848

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

R1 – 1,031.7
R2 – 1,033.3
R3 (Range Resistance – Sell) – 1,035.0
R4 (Long Breakout) – 1,039.9
R5 (Breakout Target 1) – 1,045.7
R6 (Breakout Target 2) – 1,048.3

S1 – 1,028.4
S2 – 1,026.7
S3 (Range Support – Buy) – 1,025.1
S4 (Short Breakout) – 1,020.1
S5 (Breakout Target 1) – 1,014.3
S6 (Breakout Target 2) – 1,011.7

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

R1 – 351.5
R2 – 352.0
R3 (Range Resistance – Sell) – 352.5
R4 (Long Breakout) – 354.1
R5 (Breakout Target 1) – 355.9
R6 (Breakout Target 2) – 356.7

S1 – 350.5
S2 – 350.0
S3 (Range Support – Buy) – 349.5
S4 (Short Breakout) – 347.9
S5 (Breakout Target 1) – 346.1
S6 (Breakout Target 2) – 345.3

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

R1 – 407.9
R2 – 408.5
R3 (Range Resistance – Sell) – 409.2
R4 (Long Breakout) – 411.2
R5 (Breakout Target 1) – 413.5
R6 (Breakout Target 2) – 414.4

S1 – 406.5
S2 – 405.9
S3 (Range Support – Buy) – 405.2
S4 (Short Breakout) – 403.2
S5 (Breakout Target 1) – 400.9
S6 (Breakout Target 2) – 400.0

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

R1 – $2.991
R2 – $3.001
R3 (Range Resistance – Sell) – $3.010
R4 (Long Breakout) – $3.038
R5 (Breakout Target 1) – $3.070
R6 (Breakout Target 2) – $3.085

S1 – $2.973
S2 – $2.963
S3 (Range Support – Buy) – $2.954
S4 (Short Breakout) – $2.926
S5 (Breakout Target 1) – $2.894
S6 (Breakout Target 2) – $2.879

Crude Oil (CL) for January 2017 delivery (1 Barrel)

R1 – $48.22
R2 – $48.40
R3 (Range Resistance – Sell) – $48.59
R4 (Long Breakout) – $49.15
R5 (Breakout Target 1) – $49.80
R6 (Breakout Target 2) – $50.10

S1 – $47.84
S2 – $47.66
S3 (Range Support – Buy) – $47.47
S4 (Short Breakout) – $46.91
S5 (Breakout Target 1) – $46.26
S6 (Breakout Target 2) – $45.96