"Technical Analysis" Main Commodity Intraday Targets/Key Technical Levels
This article provides technical analysis of major commodities, including Brent crude oil, palm oil, West Texas Intermediate crude oil, spot gold, LME copper futures, LME aluminum futures, CBOT soybeans, corn, wheat, New York coffee, and cocoa, with target prices, support levels, and resistance levels. Analyst Wang Tao pointed out that quotes may be delayed and forecasts may be affected
(This article is written by Wang Tao, a commodities and energy technical analyst at Reuters. The following content represents his personal views)
Singapore, Reuters, September 25th -
Contract Target Price ($ represents US dollars) Support/Resistance Level ($ represents US dollars)
Brent Crude Oil $74.28/$73.74 Resistance Levels $75.40/$76.02/$76.69
Palm Oil (main contract) 4,067/4,120 Malaysian Ringgit (Lin Ji Support Levels 4,017/3,981⁄3,928 Malaysian
Te) Ringgit
West Texas Intermediate (WTI)* $70.79/$69.73 Resistance Levels $72.49/$73.10
Spot Gold $2,667/$2,675/$2,689 Support Levels $2,654/$2,641/$2,633
LME Copper Futures* $9,957/$10,084 Support Levels $9,629/$9,483
LME Aluminum Futures* $2,590/$2,624 Support Levels $2,539/$2,499
CBOT Soybeans $10.30-1⁄4 Resistance Levels $10.48-1⁄4, $10.59-1/
2
CBOT Corn $4.07-3⁄4, $4.03-1⁄2 Resistance Levels $4.14-1⁄4, $4.18-1⁄2
CBOT Wheat $5.72, $5.64 Resistance Levels $5.81-1⁄4, $5.85-1⁄4
New York Coffee $2.6320/$2.5785 Resistance Levels $2.6925/$2.7180/$2.74
80
New York Cocoa $7,929/$8,032/$8,096 Support Levels $7,833/$7,659
- Quotes are delayed and forecasts may be affected
