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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 Thursday May 1, 2014

Hello Traders,

For 2014 I would like to wish all of you discipline and patience in your trading!



The FOMC interest rate decision is behind us and so is April. This was one of the LESS volatile FOMC announcements. 

Hope everyone will enjoy a great trading month in May!

We still have monthly unemployment this Friday and just for visual, below is the weekly Dow Jones Cash chart, flirting with all time highs…….



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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 June 2014  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell Dollar Index
Resistance 3 1896.50 3627.08 16642 1151.87 80.40
Resistance 2 1888.00 3602.42 16584 1138.13 80.21
Resistance 1 1883.25 3588.33 16549 1131.07 79.89
Pivot 1874.75 3563.67 16491 1117.33 79.70
Support 1 1870.00 3549.58 16456 1110.27 79.38
Support 2 1861.50 3524.92 16398 1096.53 79.19
Support 3 1856.75 3510.83 16363 1089.47 78.87
Contract June Gold July Silver June Crude Oil June Bonds  June Euro
Resistance 3 1310.9 1990.7 102.06 136  6/32 1.4019
Resistance 2 1304.6 1970.8 101.41 135 18/32 1.3948
Resistance 1 1297.4 1945.7 100.65 135  7/32 1.3910
Pivot 1291.1 1925.8 100.00 134 19/32 1.3839
Support 1 1283.9 1900.7 99.24 134  8/32 1.3801
Support 2 1277.6 1880.8 98.59 133 20/32 1.3730
Support 3 1270.4 1855.7 97.83 133  9/32 1.3692
Contract July Corn July Wheat July Beans July SoyMeal July bean Oil
Resistance 3 525.1 730.3 1528.17 500.70 42.87
Resistance 2 522.2 726.5 1520.58 497.50 42.62
Resistance 1 520.6 724.0 1516.67 495.60 42.36
Pivot 517.7 720.3 1509.08 492.40 42.11
Support 1 516.1 717.8 1505.2 490.5 41.9
Support 2 513.2 714.0 1497.58 487.30 41.60
Support 3 511.6 711.5 1493.67 485.40 41.34
5. Economic Reports


All times are Eastern time Zone (EST)

Date 4:04pm Currency Impact Detail Actual Forecast Previous Graph
ThuMay 1 All Day EUR French Bank Holiday
All Day EUR German Bank Holiday
All Day EUR Italian Bank Holiday
 7:30am USD Challenger Job Cuts y/y -30.2%
8:30am USD Fed Chair Yellen Speaks
USD Unemployment Claims 317K 329K
USD Core PCE Price Index m/m 0.1% 0.1%
USD Personal Spending m/m 0.7% 0.3%
USD Personal Income m/m 0.4% 0.3%
9:00am USD Final Manufacturing PMI 55.8 55.4
10:00am USD ISM Manufacturing PMI 54.3 53.7
USD Construction Spending m/m 0.5% 0.1%
USD ISM Manufacturing Prices 59.4 59.0
10:30am USD Natural Gas Storage 75B 49B
All Day USD Total Vehicle Sales 16.2M 16.4M

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 judgment in trading.

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