Daily Technical Levels and Intraday Targets for Key Commodities

The following technical analysis outlines specific intraday targets and pivotal support and resistance zones for a range of commodities. All price levels are derived from chart patterns and momentum indicators.

For energy markets, Brent crude oil (first month contract) faces initial targets near $114.35 and $116.42, with significant support levels positioned at $108.87 and $106.42. West Texas Intermediate (WTI) crude (first month) has targets at $117.02 and $120.02, while its key support lies at $112.18 and $109.18.

In the precious metals segment, spot gold is watched for resistance at $4,666, $4,740, and $4,791, with trading targets around $4,545 and $4,417.

Base metals present a mixed picture. LME copper (third month) and LME aluminium (third month) data are currently unavailable in this report.

Agricultural commodities show defined ranges. CBOT soybeans (May contract) have targets between $11.52 and $11.58, with resistance at $11.66-3/4 and $11.71-3/4. CBOT corn (May) targets are $4.46-3/4 and $4.49-1/4, facing resistance at $4.53-1/4, $4.55-3/4, and $4.57. CBOT wheat (May) sees targets at $5.87 and $5.92-3/4, with resistance at $6.02 and $6.09-1/2.

In soft commodities, N.Y. coffee (May) has a target of $2.9190 and resistance at $2.9810 and $3.0195. N.Y. cocoa (May) targets $3,175, with resistance levels at $3,281 and $3,328. Prices marked with an asterisk are delayed.