"Technical Analysis" Main Commodity Intraday Targets / Key Technical Levels
This article provides target levels and support/resistance level analysis for major commodities, including Brent crude oil, palm oil, West Texas Intermediate crude oil, spot gold, LME copper, LME aluminum, CBOT soybeans, corn, wheat, New York coffee, and cocoa. Analyst Wang Tao pointed out that price fluctuations may be affected by delayed quotes
(This article is authored by Wang Tao, a Reuters commodity and energy technical analyst, and the following content represents his personal views)
Reuters Singapore, February 6 -
Contract Target Price ($ represents USD) Support/Resistance ($ represents USD)
Brent Crude Oil $75.25/$75.97 Support $74.01/$71.97
Palm Oil 4,265⁄4,204 MYR (Malaysian Ringgit) Resistance 4,364⁄4,425 MYR
West Texas Intermediate (WTI)* $72.17/$73.09 Support $70.69/$68.93
Spot Gold $2,883/$2,901 Support $2,852/$2,834
LME Copper Futures* $9,316/$9,358 Support $9,217/$9,219
LME Aluminum Futures* $2,644/$2,655 Support $2,610/$2,590/$2,571
CBOT Soybeans $10.50-3⁄4, $10.41 Resistance $10.62-1⁄2, $10.18-1⁄4
CBOT Corn $4.86-3⁄4, $4.83-1⁄4 Resistance $4.96-1⁄2, $5.02-1⁄2
CBOT Wheat $5.64-3⁄4 Resistance $5.73-1⁄2, $5.79
New York Coffee $4.0735/$4.0990 Support $3.9615/$3.9225
New York Cocoa $10,239/$9,872 Resistance $10,607/$11,062
- Quotes are delayed, and forecasts may be affected
