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Daily Chart of April Crude Oil Futures

 

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 – March Corn, March Wheat, Jan Beans, March Silver
5.Economic Report for February 28, 2012

Hello Traders,

While our stock indices markets ( SP, Dow, NASDAQ and Russell ) been trading in very narrow range ( today was a small exception), the crude oil market continues to show the double edge volatility day-traders are looking for.

Below is a daily chart of April Crude oil futures.
PS: Stock index futures have shown in the past tendency to go through periods of low volatility and then change to periods of high volatility. The VIX index is a good indicator, which i will try to share more about tomorrow but my point is, be ready for shift in volatility and wider ranges on stock indices….as always, the question is when.

CLE - Crude light (Globex), Equalized Active Daily Continuation

CLE – Crude light (Globex), Equalized Active Daily Continuation

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

Contract (Dec. 2011) SP500
(big & Mini)
Nasdaq100
(big & Mini)
Dow Jones
(big & Mini)
Mini Russell
Resistance Level 3 1372.67 2623.92 13058 837.67
Resistance Level 2 1369.98 2617.83 13027 834.83
Resistance Level 1 1366.87 2611.17 12998 830.27
Pivot Point 1364.18 2605.08 12967 827.43
Support Level 1 1361.07 2598.42 12938 822.87
Support Level 2 1358.38 2592.33 12907 820.03
Support Level 3 1355.27 2585.67 12878 815.47

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

Contract April. Gold March Euro Feb. Crude Oil March. Bonds
Resistance Level 3 1795.6 1.3643 112.46 144 7/32
Resistance Level 2 1790.0 1.3565 111.20 143 21/32
Resistance Level 1 1782.5 1.3513 110.46 143 11/32
Pivot Point 1776.9 1.3435 109.20 142 25/32
Support Level 1 1769.4 1.3383 108.46 142 15/32
Support Level 2 1763.8 1.3305 107.20 141 29/32
Support Level 3 1756.3 1.3253 106.46 141 19/32

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

Contract March Corn March Wheat March Beans March. Silver
Resistance Level 3 653.3 643.3 1294.50 3620.3
Resistance Level 2 648.7 642.9 1292.25 3596.2
Resistance Level 1 646.3 642.1 1289.50 3567.3
Pivot Point 641.7 641.7 1287.25 3543.2
Support Level 1 639.3 640.8 1284.5 3514.3
Support Level 2 634.7 640.4 1282.25 3490.2
Support Level 3 632.3 639.6 1279.50 3461.3


5. Economic Reports

8:30am USD
Core Durable Goods Orders m/m

8:30am USD
Durable Goods Orders m/m

9:00am USD
S&P/CS Composite-20 HPI y/y

10:00am USD
CB Consumer Confidence

10:00am USD
FOMC Member Duke Speaks

10:00am USD
Richmond Manufacturing Index

7:15pm USD
FOMC Member Pianalto Speak

Tags: > > Posted in: Commodity Trading   | Future Trading News  

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