The Futures Trader's Destination for Over 25 Years

Open an Account
Call Us Free: 1-800-454-9572
Why Trade with Cannon?
  • USA
  • Canada
  • Mexico
  • United Kingdom
  • France
  • Italy
  • Spain
  • Germany
  • Australia
  • Netherlands
  • Romania
  • Belgium
  • Sweden
  • Czech Republic
  • Hungary
  • Switzerland
  • Austria
  • Portugal
  • Denmark
  • Greece
  • UAE
  • Israel
  • Jordan
  • Saudi Arabia
  • India
  • Argentina
  • Costa Rica
  • Peru
  • Chile
  • Brazil
  • China
  • Hong Kong
  • Japan
  • Russia
  • Thailand
  • South Korea
  • Taiwan
  • Philippines
  • Singapore
  • And Many More!
Countries We Accept Clients From | International Calls: 310-859-9572

Daily chart of the Dow Jones cash index | 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 – March Corn, March Wheat, Jan Beans, March Silver
5. Economic Reports for Wednesday, December 28 2011

1. Market Commentary

Also, I mentioned before and I am mentioning again, volume is much lighter recent days. Be aware of the change in “intra-day personalities of the markets” and I recommend taking the approach of “no trade is better than a bad trade”….

We are also light on economic numbers and reports rest of the week as you can see below.

Daily chart of the Dow Jones cash index for your review below. Note the decline in volume over past few days.

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 1272.97 2323.92 12323 764.67
Resistance Level 2 1268.48 2311.33 12288 757.73
Resistance Level 1 1265.37 2302.17 12266 753.67
Pivot Point 1260.88 2289.58 12231 746.73
Support Level 1 1257.77 2280.42 12209 742.67
Support Level 2 1253.28 2267.83 12174 735.73
Support Level 3 1250.17 2258.67 12152 731.67

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

Contract Feb. Gold Dec. Euro Jan. Crude Oil March. Bonds
Resistance Level 3 1611.0 1.3122 104.68 143 6/32
Resistance Level 2 1606.3 1.3109 103.23 142 28/32
Resistance Level 1 1600.6 1.3097 102.28 142 21/32
Pivot Point 1595.9 1.3084 100.83 142 11/32
Support Level 1 1590.2 1.3072 99.88 142 4/32
Support Level 2 1585.5 1.3059 98.43 141 26/32
Support Level 3 1579.8 1.3047 97.48 141 19/32

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

Contract March Corn March Wheat Jan. Beans March. Silver
Resistance Level 3 648.9 673.0 1254.33 2966.7
Resistance Level 2 642.8 660.0 1234.67 2944.3
Resistance Level 1 636.9 653.0 1221.33 2906.2
Pivot Point 630.8 640.0 1201.67 2883.8
Support Level 1 624.9 633.0 1188.3 2845.7
Support Level 2 618.8 620.0 1168.67 2823.3
Support Level 3 612.9 613.0 1155.33 2785.2


5. Economic Reports

German Prelim CPI
All Day

M3 Money Supply
4:00am

Private Loans
4:00am

Unemployment Claims
8:30am

Chicago PMI
9:45am

Pending Home Sales
10:00am

Natural Gas Storage
10:30am

Crude Oil Inventories
11:00am

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

Download Cannon’s new eBook, “Futures Forthright” instantly.


Quick Tip: After registering you will be emailed login information, so be sure to use an email address you have access to. If you need assistance please call us at 1-800-454-9572, a professional broker will help you through the registration process.
________
Doing Business With
See more...
Loading
Loading

Loading