Commodity Market: Pivot Levels for Wednesday (January 4th 2017)

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 March 2017 delivery (1 Troy Ounce)

R1 – $16.465
R2 – $16.522
R3 (Range Resistance – Sell) – $16.578
R4 (Long Breakout) – $16.747
R5 (Breakout Target 1) – $16.945
R6 (Breakout Target 2) – $17.042

S1 – $16.353
S2 – $16.296
S3 (Range Support – Buy) – $16.240
S4 (Short Breakout) – $16.071
S5 (Breakout Target 1) – $15.873
S6 (Breakout Target 2) – $15.776

Copper (HG) for March 2017 delivery (1 Pound)

R1 – $2.4947
R2 – $2.5005
R3 (Range Resistance – Sell) – $2.5062
R4 (Long Breakout) – $2.5234
R5 (Breakout Target 1) – $2.5435
R6 (Breakout Target 2) – $2.5516

S1 – $2.4833
S2 – $2.4775
S3 (Range Support – Buy) – $2.4718
S4 (Short Breakout) – $2.4546
S5 (Breakout Target 1) – $2.4346
S6 (Breakout Target 2) – $2.4264

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

R1 – 996.6
R2 – 998.2
R3 (Range Resistance – Sell) – 999.7
R4 (Long Breakout) – 1,004.5
R5 (Breakout Target 1) – 1,010.0
R6 (Breakout Target 2) – 1,012.2

S1 – 993.4
S2 – 991.8
S3 (Range Support – Buy) – 990.3
S4 (Short Breakout) – 985.5
S5 (Breakout Target 1) – 980.0
S6 (Breakout Target 2) – 977.8

Corn (ZC) for March 2017 delivery (in US cents per 1 Bushel)

R1 – 356.2
R2 – 356.9
R3 (Range Resistance – Sell) – 357.5
R4 (Long Breakout) – 359.5
R5 (Breakout Target 1) – 361.7
R6 (Breakout Target 2) – 362.7

S1 – 355.0
S2 – 354.3
S3 (Range Support – Buy) – 353.7
S4 (Short Breakout) – 351.8
S5 (Breakout Target 1) – 349.5
S6 (Breakout Target 2) – 348.5

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

R1 – 407.2
R2 – 407.9
R3 (Range Resistance – Sell) – 408.7
R4 (Long Breakout) – 411.0
R5 (Breakout Target 1) – 413.7
R6 (Breakout Target 2) – 414.8

S1 – 405.6
S2 – 404.9
S3 (Range Support – Buy) – 404.1
S4 (Short Breakout) – 401.8
S5 (Breakout Target 1) – 399.1
S6 (Breakout Target 2) – 398.0

Natural Gas (NG) for February 2017 delivery (1 Mmbtu)

R1 – $3.355
R2 – $3.382
R3 (Range Resistance – Sell) – $3.410
R4 (Long Breakout) – $3.493
R5 (Breakout Target 1) – $3.589
R6 (Breakout Target 2) – $3.634

S1 – $3.298
S2 – $3.272
S3 (Range Support – Buy) – $3.244
S4 (Short Breakout) – $3.161
S5 (Breakout Target 1) – $3.065
S6 (Breakout Target 2) – $3.020

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

R1 – $52.62
R2 – $52.90
R3 (Range Resistance – Sell) – $53.19
R4 (Long Breakout) – $54.05
R5 (Breakout Target 1) – $55.06
R6 (Breakout Target 2) – $55.47

S1 – $52.04
S2 – $51.76
S3 (Range Support – Buy) – $51.47
S4 (Short Breakout) – $50.61
S5 (Breakout Target 1) – $49.60
S6 (Breakout Target 2) – $49.19

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