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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 Friday August 26, 2016
Hello Traders,
Greetings!
Crude Oil Futures Are Reaching a Decision Point
I like the potential of being bullish on crude oil futures for next few weeks! Here are a few ways you can do this:
Crude oil futures have been providing quite a bit of excitement the last few months. Most traders, myself included, like excitement when it comes to trading. It means two things: opportunities and risks.
The recent pullback in crude oil future prices present a buying opportunity, in my opinion.
Looking at the daily chart of crude oil below, you will see that I marked what I feel should be a support level for resumption of the upside move.
GOOD TRADING
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
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Levels for Trade Date of 8.26.2016
Contract Sept. 2016 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
Resistance 3 | 2187.75 | 4820.33 | 18563 | 1255.83 | 95.07 |
Resistance 2 | 2182.50 | 4807.17 | 18524 | 1249.47 | 94.94 |
Resistance 1 | 2178.00 | 4794.58 | 18484 | 1244.53 | 94.83 |
Pivot | 2172.75 | 4781.42 | 18445 | 1238.17 | 94.69 |
Support 1 | 2168.25 | 4768.83 | 18405 | 1233.23 | 94.58 |
Support 2 | 2163.00 | 4755.67 | 18366 | 1226.87 | 94.45 |
Support 3 | 2158.50 | 4743.08 | 18326 | 1221.93 | 94.34 |
Contract | Dec. Gold | Sept. Silver | Oct. Crude Oil | Sept. Bonds | Sept. Euro |
Resistance 3 | 1339.3 | 18.78 | 48.76 | 173 19/32 | 1.1348 |
Resistance 2 | 1334.8 | 18.70 | 48.11 | 173 2/32 | 1.1328 |
Resistance 1 | 1330.1 | 18.60 | 47.72 | 172 11/32 | 1.1309 |
Pivot | 1325.6 | 18.52 | 47.07 | 171 26/32 | 1.1289 |
Support 1 | 1320.9 | 18.42 | 46.68 | 171 3/32 | 1.1271 |
Support 2 | 1316.4 | 18.34 | 46.03 | 170 18/32 | 1.1251 |
Support 3 | 1311.7 | 18.24 | 45.64 | 169 27/32 | 1.1232 |
Contract | Dec. Corn | Dec. Wheat | Nov. Beans | Dec. SoyMeal | Oct. Nat Gas |
Resistance 3 | 340.9 | 431.4 | 1015.33 | 334.87 | 3.05 |
Resistance 2 | 338.8 | 429.6 | 1007.17 | 331.53 | 2.97 |
Resistance 1 | 335.4 | 426.7 | 991.33 | 325.17 | 2.93 |
Pivot | 333.3 | 424.8 | 983.17 | 321.83 | 2.85 |
Support 1 | 329.9 | 421.9 | 967.3 | 315.5 | 2.8 |
Support 2 | 327.8 | 420.1 | 959.17 | 312.13 | 2.74 |
Support 3 | 324.4 | 417.2 | 943.33 | 305.77 | 2.69 |
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
Date | 4:16pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
---|---|---|---|---|---|---|---|---|---|
FriAug 26 | 2:00am | EUR |
GfK German Consumer Climate
|
10.2 | 10.0 | ||||
4:00am | EUR |
M3 Money Supply y/y
|
5.0% | 5.0% | |||||
EUR |
Private Loans y/y
|
1.8% | 1.7% | ||||||
4:30am | GBP |
Second Estimate GDP q/q
|
0.6% | 0.6% | |||||
GBP |
Prelim Business Investment q/q
|
-0.9% | -0.6% | ||||||
GBP |
Index of Services 3m/3m
|
0.4% | 0.3% | ||||||
8:30am | USD |
Prelim GDP q/q
|
1.1% | 1.2% | |||||
USD |
Goods Trade Balance
|
-62.3B | -63.3B | ||||||
USD |
Prelim GDP Price Index q/q
|
2.2% | 2.2% | ||||||
10:00am | USD |
Fed Chair Yellen Speaks
|
|||||||
USD |
Revised UoM Consumer Sentiment
|
90.6 | 90.4 | ||||||
USD |
Revised UoM Inflation Expectations
|
2.5% | |||||||
All Day | ALL |
Jackson Hole Symposium
|