1-800-454-9572 info@cannontrading.com

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.

Jump to a section in this post:
1. Market Commentary
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Economic Reports for Tuesday May 15, 2012


Hello Traders,


Same great information, more tools and much better presentation and ease of navigation!


I wrote Friday after the close: 

“I thought we finished the week on a somewhat bearish note….

The market tried to penetrate higher the last 3 sessions and failed each time.

Also I got a sell signal on the weekly chart which I am attaching below for your review.

I think what type of price action we will see ( if ) when we trade at  1336- 1339 area, may give us further clues about this market. “

Well we tested this area today and did not get much of a bounce and actually closed right at 1336.

To me this shift the medium – longer term stance into bearish but as I said in the past, each day is different and one can not tell what the next day will bring…..

On a different note ( market) , weekly chart of the gold market for your review below with some key areas to watch.


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.

2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000

Contract (June 2012) SP500
(big & Mini)
(big & Mini)
Dow Jones
(big & Mini)
Mini Russell Dollar Index
Resistance 3 1352.33 2728.50 12813 802.67 81.29
Resistance 2 1348.42 2668.25 12772 796.83 81.07
Resistance 1 1341.33 2704.50 12713 786.17 80.93
Pivot 1337.42 2644.25 12672 780.33 80.71
Support 1 1330.33 2680.50 12613 769.67 80.57
Support 2 1326.42 2620.25 12572 763.83 80.35
Support 3 1319.33 2656.50 12513 753.17 80.21

3. Support & Resistance Levels for Gold, Euro, Crude Oil, and U.S. T-Bonds

Contract June Gold June Euro June Crude Oil June Bonds
Resistance 3 1608.1 1.2970 97.62 148 4/32
Resistance 2 1597.0 1.2938 96.73 147 10/32
Resistance 1 1577.3 1.2889 95.44 146 25/32
Pivot 1566.2 1.2857 94.55 145 31/32
Support 1 1546.5 1.2808 93.26 145 14/32
Support 2 1535.4 1.2776 92.37 144 20/32
Support 3 1515.7 1.2727 91.08 144 3/32

4. Support & Resistance Levels for Corn, Wheat, Beans and Silver

Contract July Corn July Wheat July Beans July Silver
Resistance 3 593.1 605.3 1415.67 2956.7
Resistance 2 589.7 602.4 1406.33 2928.3
Resistance 1 586.3 600.3 1396.67 2874.7
Pivot 582.9 597.4 1387.33 2846.3
Support 1 579.6 595.3 1377.7 2792.7
Support 2 576.2 592.4 1368.33 2764.3
Support 3 572.8 590.3 1358.67 2710.7

5. Economic Reports

1:30am EUR
French Prelim GDP q/q

1:30am EUR
French CPI m/m

2:00am EUR
German Prelim GDP q/q

2:45am EUR
French Prelim Non-Farm Payrolls q/q

4:00am EUR
Italian Prelim GDP q/q

5:00am EUR
German ZEW Economic Sentiment

5:00am EUR
Flash GDP q/q

5:00am EUR
ZEW Economic Sentiment

All Day EUR
ECOFIN Meetings

8:30am USD
Core CPI m/m

8:30am USD
Core Retail Sales m/m

8:30am USD
Retail Sales m/m

8:30am USD
CPI m/m

8:30am USD
Empire State Manufacturing Index

9:00am USD
TIC Long-Term Purchases

9:30am USD
FOMC Member Duke Speaks

10:00am USD
Business Inventories m/m

10:00am USD
NAHB Housing Market Index

Tags: > > Posted in: Future Trading News  

Comments are closed.

Have A Questions? Open an account Free Demo Account Free Demo Account


Valid first name is required.
Valid last name is required.
Phone number is required.
E-mail is required.
Message is required.
Phone (USA)
Phone (International)
Our Approach

You and your broker will work together to achieve your trading goals. We develop long term relationships with our clients so that we can grow and improve together.
Learn More About Choosing Cannon

Our Platforms

Please click on one of our platforms below to learn more about them, start a free demo, or open an account.
TransAct AT
Shogun Trade Executer
Firetip (Mac Compatible)

Trading Expertise As Featured In

Trading Tips You Can Use Right Away!

Watch 4 short videos on the topics of:
  • Using Bollinger Bands and Parabolics
  • Using range Bars for Day-Trading
  • The concept of Price Confirmation
  • How to Use Support & Resistance Levels
  • License 3 Broker at your Fingertips