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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 August 12, 2016
Hello Traders,
Greetings!
How Sweet Will The Sugar Rally Be? Ilan Levy-Mayer |
The sugar market has made a significant upside move over the past few days and weeks.
Weather concerns for part of the growing areas in Asia, as well as strength in Brazilian real contributed to this rally.
From a technical point of view, I feel this market is overbought and over-extended, but when fundamentals take over, you can use the charts for wall decoration…That being said, I will be looking for signs of exhaustion on the daily and weekly charts.
The chart below is a monthly chart of sugar, and you will see that we are trading right against recent highs and I got a sell signal in the shape of my red diamond. However, I don’t have a crystal ball, hence I will look on the daily chart for a similar clue before trying to go against the trend and go short.
Read the full article along with my chart set up at:
https://www.equities.com/news/how-sweet-will-the-sugar-rally-be
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 8.12.2016
| Contract Sept. 2016 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2203.42 | 4851.67 | 18792 | 1241.60 | 96.44 |
| Resistance 2 | 2194.33 | 4831.33 | 18693 | 1235.80 | 96.16 |
| Resistance 1 | 2188.17 | 4816.42 | 18631 | 1231.30 | 96.02 |
| Pivot | 2179.08 | 4796.08 | 18532 | 1225.50 | 95.74 |
| Support 1 | 2172.92 | 4781.17 | 18470 | 1221.00 | 95.59 |
| Support 2 | 2163.83 | 4760.83 | 18371 | 1215.20 | 95.31 |
| Support 3 | 2157.67 | 4745.92 | 18309 | 1210.70 | 95.17 |
| Contract | Dec. Gold | Sept. Silver | Sept. Crude Oil | Sept. Bonds | Sept. Euro |
| Resistance 3 | 1372.3 | 20.67 | 47.21 | 175 1/32 | 1.1249 |
| Resistance 2 | 1365.9 | 20.50 | 45.53 | 174 8/32 | 1.1229 |
| Resistance 1 | 1354.3 | 20.23 | 44.45 | 173 4/32 | 1.1192 |
| Pivot | 1347.9 | 20.07 | 42.77 | 172 11/32 | 1.1172 |
| Support 1 | 1336.3 | 19.80 | 41.69 | 171 7/32 | 1.1135 |
| Support 2 | 1329.9 | 19.63 | 40.01 | 170 14/32 | 1.1115 |
| Support 3 | 1318.3 | 19.36 | 38.93 | 169 10/32 | 1.1078 |
| Contract | Dec. Corn | Sept. Wheat | Nov. Beans | Dec. SoyMeal | Sept. Nat Gas |
| Resistance 3 | 336.1 | 432.4 | 996.67 | 338.10 | 2.66 |
| Resistance 2 | 334.9 | 428.1 | 993.33 | 336.10 | 2.63 |
| Resistance 1 | 333.3 | 422.2 | 988.67 | 333.00 | 2.59 |
| Pivot | 332.2 | 417.8 | 985.33 | 331.00 | 2.56 |
| Support 1 | 330.6 | 411.9 | 980.7 | 327.9 | 2.5 |
| Support 2 | 329.4 | 407.6 | 977.33 | 325.90 | 2.48 |
| Support 3 | 327.8 | 401.7 | 972.67 | 322.80 | 2.44 |
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| 3:33pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | ||
|---|---|---|---|---|---|---|---|---|---|
| FriAug 12 | 2:00am | EUR |
German Prelim GDP q/q
|
0.3% | 0.7% | ||||
| EUR |
German Final CPI m/m
|
0.3% | 0.3% | ||||||
| EUR |
German WPI m/m
|
0.3% | 0.6% | ||||||
| 2:45am | EUR |
French Prelim Non-Farm Payrolls q/q
|
0.2% | 0.3% | |||||
| 4:00am | EUR |
Italian Prelim GDP q/q
|
0.2% | 0.3% | |||||
| 5:00am | EUR |
Flash GDP q/q
|
0.3% | 0.3% | |||||
| EUR |
Industrial Production m/m
|
0.6% | -1.2% | ||||||
| 8:30am | USD |
Core Retail Sales m/m
|
0.2% | 0.7% | |||||
| USD |
PPI m/m
|
0.1% | 0.5% | ||||||
| USD |
Retail Sales m/m
|
0.4% | 0.6% | ||||||
| USD |
Core PPI m/m
|
0.2% | 0.4% | ||||||
| 10:00am | USD |
Prelim UoM Consumer Sentiment
|
91.5 | 90.0 | |||||
| USD |
Business Inventories m/m
|
0.1% | 0.2% | ||||||
| USD |
Prelim UoM Inflation Expectations
|
2.7% |
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