Crude Oil Futures Market Opportunities | Support and Resistance Levels

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.

Crude Oil Futures Market Opportunities | Support and Resistance Levels

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 Friday April 27, 2012


Hello Traders,

I spend a lot of time talking about stock index futures like mini SP, mini Russell etc.

However there more than a few other markets that have enough volume and volatility to attract daytraders. One of them is Crude oil.

I personally like Crude Oil futures because the “punishment or fulfillment” are pretty fast…and by that i mean that Crude Oil prices are volatile enough most of the times, that day-traders get stopped out with losses or exit with profits much quicker than other markets….Now if you are one of these daytraders who does not believe in stops…Crude Oil futures is not for you.

Each point on Crude Oil futures is $10, so a full $1 move or 100 cents is $1000 against you or in your favor.

We also have the mini Crude which is half the size.

If you have not traded crude before I recommend following it in demo mode, simulating some trades in demo mode before attempting to trade it live. As I said before, this is a volatile market which can work against you pretty fast if you are not disciplined.

Below you will see my daily chart of crude oil futures where I think we may head lower unless we break above 105.50 ( That is $105.50 per barrel)

Friday is statistically better for SHORTS….

Below the daily chart of crude oil you will see an INTRA DAY chart from todays sessions, where you can get a feel for the market behavior.

Daily chart of June Crude Oil Futures:,


Intra day chart of Crude oil futures from today, April 26th 2012


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
Resistance 3 1416.83 2755.33 13352 833.13
Resistance 2 1407.42 2741.17 13259 825.57
Resistance 1 1401.83 2730.33 13210 820.83
Pivot 1392.42 2716.17 13117 813.27
Support 1 1386.83 2705.33 13068 808.53
Support 2 1377.42 2691.17 12975 800.97
Support 3 1371.83 2680.33 12926 796.23

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 1685.6 1.3336 106.04 144 5/32
Resistance 2 1673.8 1.3301 105.48 143 16/32
Resistance 1 1666.1 1.3271 104.96 143
Pivot 1654.3 1.3236 104.40 142 11/32
Support 1 1646.6 1.3206 103.88 141 27/32
Support 2 1634.8 1.3171 103.32 141 6/32
Support 3 1627.1 1.3141 102.80 140 22/32

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

Contract July Corn July Wheat July Beans May Silver
Resistance 3 621.8 643.7 1505.67 3201.7
Resistance 2 615.7 639.8 1494.08 3163.8
Resistance 1 611.6 637.7 1487.17 3135.2
Pivot 605.4 633.8 1475.58 3097.3
Support 1 601.3 631.7 1468.7 3068.7
Support 2 595.2 627.8 1457.08 3030.8
Support 3 591.1 625.7 1450.17 3002.2

5. Economic Reports

2:00am EUR
GfK German Consumer Climate

2:00am EUR
German Import Prices m/m

2:45am EUR
French Consumer Spending m/m

4:00am EUR
Italian Retail Sales m/m

Tentative ALL
G7 Meetings

8:30am USD
Advance GDP q/q

8:30am USD
Advance GDP Price Index q/q

8:30am USD
Employment Cost Index q/q

9:55am USD
Revised UoM Consumer Sentiment

9:55am USD
Revised UoM Inflation Expectations

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