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Crude Oil and Mini SP 500 Charts – Sitting on Major Support! 9.15.2016

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1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Thursday September 15, 2016

Greetings!

No words of wisdom today…so instead two charts of two markets that are sitting or very close to major support.

First is the mini SP 500, followed by Crude Oil.

Mini SP 500 Daily Chart

Mini SP 500 Daily Chart

Crude Oil Daily Chart

Crude Oil Daily Chart

If you need help, feel like chatting markets or getting feedback  – we are here!

GOOD TRADING

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Futures Trading Levels

Levels for Trade Date of 9.15.2016

Contract Dec. 2016 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 2153.67 4814.08 18236 1225.83 96.06
Resistance 2 2144.08 4790.92 18160 1220.97 95.86
Resistance 1 2131.17 4766.58 18057 1214.03 95.59
Pivot 2121.58 4743.42 17981 1209.17 95.39
Support 1 2108.67 4719.08 17878 1202.23 95.13
Support 2 2099.08 4695.92 17802 1197.37 94.93
Support 3 2086.17 4671.58 17699 1190.43 94.66
Contract Dec. Gold Dec. Silver Oct. Crude Oil Dec. Bonds Sept.   Euro
Resistance 3 1344.8 19.53 46.76 167 8/32 1.1343
Resistance 2 1337.3 19.35 46.05 166 26/32 1.1310
Resistance 1 1331.6 19.20 44.85 166 8/32 1.1281
Pivot 1324.1 19.02 44.14 165 26/32 1.1248
Support 1 1318.4 18.87 42.94 165 8/32 1.1220
Support 2 1310.9 18.69 42.23 164 26/32 1.1187
Support 3 1305.2 18.54 41.03 164 8/32 1.1158
Contract Dec. Corn Dec. Wheat Nov. Beans Dec. SoyMeal Oct. Nat Gas
Resistance 3 339.2 415.8 954.50 311.00 3.09
Resistance 2 335.6 410.0 951.25 309.90 3.03
Resistance 1 333.7 406.5 947.00 307.80 2.96
Pivot 330.1 400.8 943.75 306.70 2.91
Support 1 328.2 397.3 939.5 304.6 2.8
Support 2 324.6 391.5 936.25 303.50 2.78
Support 3 322.7 388.0 932.00 301.40 2.71

source:http://www.forexfactory.com/calendar.php

All times are Eastern time Zone (EST)

Date 4:07pm Currency Impact Detail Actual Forecast Previous Graph
ThuSep 15  4:30am GBP
Retail Sales m/m
-0.4% 1.4%
5:00am EUR
Final CPI y/y
0.2% 0.2%
EUR
Final Core CPI y/y
0.8% 0.8%
EUR
Trade Balance
22.1B 23.4B
Tentative EUR
Spanish 10-y Bond Auction
1.10|2.1
7:00am GBP
MPC Official Bank Rate Votes
0-0-9 0-9-0
GBP
Monetary Policy Summary
GBP
Official Bank Rate
0.25% 0.25%
GBP
Asset Purchase Facility
435B 435B
GBP
MPC Asset Purchase Facility Votes
0-0-9 6-0-3
8:30am USD
Core Retail Sales m/m
0.3% -0.3%
USD
PPI m/m
0.1% -0.4%
USD
Philly Fed Manufacturing Index
1.1 2.0
USD
Retail Sales m/m
-0.1% 0.0%
USD
Unemployment Claims
262K 259K
USD
Core PPI m/m
0.1% -0.3%
USD
Current Account
-120B -125B
USD
Empire State Manufacturing Index
-0.9 -4.2
9:15am USD
Capacity Utilization Rate
75.8% 75.9%
USD
Industrial Production m/m
-0.2% 0.7%
10:00am USD
Business Inventories m/m
0.1% 0.2%
10:30am USD
Natural Gas Storage
57B 36B

This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts here in contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgement in trading.

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