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Support & Resistance Levels

This Blog provides futures market outlook for different commodities and futures trading markets, mostly stock index futures, as well as support and resistance levels for Crude Oil futures, Gold futures, Euro currency and others. At times the daily trading blog will include educational information about different aspects of commodity and futures trading.

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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 June 24, 2016

Hello Traders,

Much has been written about the vote in the UK to exit or stay with the European Union, “BREXIT”.

The voting begins at 7AM (UK) and closes at 10PM (UK) on Thursday June 23.

We expect this to create some extreme volatility in many markets for the next few days and encourage all of you to  be aware and use conservative approach rather than aggressive approach.

I will share two sayings I heard last few days….
“Better to be a live chicken than a dead duck……”
“Don’t go out picking flowers during a hurricane….”

A quick article/outlook with chart I wrote for Equities.com


Time Table ( Eastern Time and Pacific time below)):

Here’s a rundown of the key times to watch Thursday through early Friday morning.
Time (U.S. Pacific Time in parenthesis)
Thurs. 7:00 A.M. (11 P.M.Wed.)
Polling stations open
Thurs. 10:00 P.M. (2 P.M.)
Polling stations close, no exit polls
Thurs. around 11:30 P.M. (3:30 P.M.)
First announcements on voter turnout
Fri. 12:30 A.M. (Thurs. 4:30 P.M.)
Results expected for first counting areas
Fri. 3-4:00 A.M. (Thurs. 7-8:00 P.M.)
Results from half of the counting areas are in
Fri. around 5:00 A.M. (Thurs. 9:00 P.M.)
About 80% of counting areas have reported results
Fri. 7 A.M. (Thurs. 11:00 P.M.)
All votes are likely to have been counted and the official result is expected shortly after.

Feel free to call us at 800-454-9572 with any questions.


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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Futures Trading Levels 

Contract Sept. 2016  SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 2134.75 4527.42 18151 1195.10 94.38
Resistance 2 2120.00 4493.33 18033 1182.00 94.03
Resistance 1 2112.50 4476.17 17972 1175.40 93.73
Pivot 2097.75 4442.08 17854 1162.30 93.38
Support 1 2090.25 4424.92 17793 1155.70 93.08
Support 2 2075.50 4390.83 17675 1142.60 92.73
Support 3 2068.00 4373.67 17614 1136.00 92.43
Contract Aug. Gold July Silver Aug. Crude Oil Sept. Bonds Sept.   Euro
Resistance 3 1288.1 17.76 51.56 168 12/32 1.1560
Resistance 2 1281.5 17.63 50.86 167 30/32 1.1509
Resistance 1 1270.1 17.48 50.47 166 30/32 1.1455
Pivot 1263.5 17.35 49.77 166 16/32 1.1404
Support 1 1252.1 17.19 49.38 165 16/32 1.1350
Support 2 1245.5 17.06 48.68 165 2/32 1.1299
Support 3 1234.1 16.91 48.29 164 2/32 1.1245
Contract July Corn July Wheat July Beans July SoyMeal July Nat Gas
Resistance 3 394.1 465.6 1140.33 399.00 2.84
Resistance 2 391.4 462.9 1132.17 395.20 2.78
Resistance 1 389.3 458.6 1116.83 388.10 2.74
Pivot 386.7 455.9 1108.67 384.30 2.68
Support 1 384.6 451.6 1093.3 377.2 2.6
Support 2 381.9 448.9 1085.17 373.40 2.57
Support 3 379.8 444.6 1069.83 366.30 2.53


All times are Eastern time Zone (EST)

Date 4:24pm Currency Impact Detail Actual Forecast Previous Graph
FriJun 24  4:00am EUR
German Ifo Business Climate
107.6 107.7
Italian Retail Sales m/m
0.2% -0.6%
4:30am GBP
BBA Mortgage Approvals
37.9K 40.1K
Tentative EUR
Long Term Refinancing Option
8:30am USD
Core Durable Goods Orders m/m
0.1% 0.5%
Durable Goods Orders m/m
-0.5% -0.8%
10:00am USD
Revised UoM Consumer Sentiment
94.2 94.3
Revised UoM Inflation Expectations

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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