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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 October 28, 2016
Greetings!
Good read by the CME about oil prices:
Oil: Tell-Tale Signs in U.S. Inventories
For those hoping for a sustained rebound in oil prices, U.S. inventories might present a mixed picture. First the bad news: crude oil inventories are still near record high levels and are continuing to rise on a year-on-year basis. Gasoline and ultra-low sulfur diesel (ULSD) inventories are also increasing year on year but to a lesser extent. Inventories of all three remain near seasonally-adjusted record highs.
The good news is that the pace of inventory accumulation is slowing rapidly. For a while in 2015, crude oil inventories were rising as much as 31% year on year. Currently, they are just 5% greater than a year ago (Figure 2). Gasoline inventories are up about 4% from last year while ULSD inventories are up about 7% from a year ago. At their peak rate of increase, gasoline inventories rose at about 11% year on year, while ULSD inventories increased by as much as 27% year on year.
GOOD TRADING
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Levels for Trade Date of 10.28.2016
| Contract Dec. 2016 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2157.42 | 4930.58 | 18281 | 1223.23 | 99.61 |
| Resistance 2 | 2150.58 | 4905.42 | 18232 | 1215.57 | 99.31 |
| Resistance 1 | 2138.17 | 4859.33 | 18163 | 1200.63 | 99.09 |
| Pivot | 2131.33 | 4834.17 | 18114 | 1192.97 | 98.79 |
| Support 1 | 2118.92 | 4788.08 | 18045 | 1178.03 | 98.57 |
| Support 2 | 2112.08 | 4762.92 | 17996 | 1170.37 | 98.27 |
| Support 3 | 2099.67 | 4716.83 | 17927 | 1155.43 | 98.05 |
| Contract | Dec. Gold | Dec. Silver | Dec. Crude Oil | Dec. Bonds | Dec. Euro |
| Resistance 3 | 1282.7 | 17.91 | 51.18 | 165 29/32 | 1.1017 |
| Resistance 2 | 1278.2 | 17.82 | 50.62 | 164 29/32 | 1.0991 |
| Resistance 1 | 1274.2 | 17.73 | 50.12 | 163 21/32 | 1.0957 |
| Pivot | 1269.7 | 17.64 | 49.56 | 162 21/32 | 1.0931 |
| Support 1 | 1265.7 | 17.55 | 49.06 | 161 13/32 | 1.0897 |
| Support 2 | 1261.2 | 17.46 | 48.50 | 160 13/32 | 1.0871 |
| Support 3 | 1257.2 | 17.37 | 48.00 | 159 5/32 | 1.0837 |
| Contract | Dec. Corn | Dec. Wheat | Jan. Beans | Dec. SoyMeal | Dec. Nat Gas |
| Resistance 3 | 366.2 | 425.6 | 1039.17 | 342.80 | 3.21 |
| Resistance 2 | 362.3 | 422.2 | 1029.58 | 335.80 | 3.16 |
| Resistance 1 | 359.9 | 418.3 | 1021.92 | 331.70 | 3.11 |
| Pivot | 356.1 | 414.9 | 1012.33 | 324.70 | 3.05 |
| Support 1 | 353.7 | 411.1 | 1004.7 | 320.6 | 3.0 |
| Support 2 | 349.8 | 407.7 | 995.08 | 313.60 | 2.95 |
| Support 3 | 347.4 | 403.8 | 987.42 | 309.50 | 2.90 |
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 4:18pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| FriOct 28 | 1:30am | EUR |
French Prelim GDP q/q
|
0.3% | -0.1% | ||||
| All Day | EUR |
German Prelim CPI m/m
|
0.1% | 0.1% | |||||
| 2:45am | EUR |
French Consumer Spending m/m
|
0.3% | 0.7% | |||||
| EUR |
French Prelim CPI m/m
|
0.2% | -0.2% | ||||||
| 3:00am | EUR |
Spanish Flash CPI y/y
|
0.3% | 0.2% | |||||
| EUR |
Spanish Flash GDP q/q
|
0.7% | 0.8% | ||||||
| Tentative | EUR |
Italian 10-y Bond Auction
|
1.21|1.4 | ||||||
| 8:30am | USD |
Advance GDP q/q
|
2.5% | 1.4% | |||||
| USD |
Advance GDP Price Index q/q
|
1.3% | 2.3% | ||||||
| USD |
Employment Cost Index q/q
|
0.6% | 0.6% | ||||||
| 10:00am | USD |
Revised UoM Consumer Sentiment
|
88.2 | 87.9 | |||||
| USD |
Revised UoM Inflation Expectations
|
2.4% |
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