FOMC Report and Market Rally | Support and Resistance Levels
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
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 Thursday April 26, 2012
Hello Traders,
FOMC came and market continues to rally based on AAPL (Apple) earnings yesterday…
I shared a good hourly chart of the mini NASDAQ yesterday right before the close with a buy signal that turned out to be a good one….Here is an updated mini NASDAQ 100 hourly chart, with potential targets as well as possible pull backs along with two sell signals that were NOT confirmed by price action
(break below or above dashes):,
GOOD TRADING!
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2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000
| Contract (June 2012) | SP500 (big & Mini) |
Nasdaq100 (big & Mini) |
Dow Jones (big & Mini) |
Mini Russell |
| Resistance 3 | 1397.33 | 2730.17 | 13132 | 827.47 |
| Resistance 2 | 1392.52 | 2718.08 | 13093 | 820.13 |
| Resistance 1 | 1390.13 | 2711.17 | 13067 | 814.87 |
| Pivot | 1385.32 | 2699.08 | 13028 | 807.53 |
| Support 1 | 1382.93 | 2692.17 | 13002 | 802.27 |
| Support 2 | 1378.12 | 2680.08 | 12963 | 794.93 |
| Support 3 | 1375.73 | 2673.17 | 12937 | 789.67 |
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 | 1675.3 | 1.3314 | 106.19 | 143 26/32 |
| Resistance 2 | 1661.4 | 1.3276 | 105.38 | 143 4/32 |
| Resistance 1 | 1652.7 | 1.3250 | 104.73 | 142 16/32 |
| Pivot | 1638.8 | 1.3212 | 103.92 | 141 26/32 |
| Support 1 | 1630.1 | 1.3186 | 103.27 | 141 6/32 |
| Support 2 | 1616.2 | 1.3148 | 102.46 | 140 16/32 |
| Support 3 | 1607.5 | 1.3122 | 101.81 | 139 28/32 |
4. Support & Resistance Levels for Corn, Wheat, Beans and Silver
| Contract | July Corn | July Wheat | July Beans | May Silver |
| Resistance 3 | 626.8 | 651.5 | 1512.33 | 3214.8 |
| Resistance 2 | 621.7 | 646.5 | 1503.17 | 3155.7 |
| Resistance 1 | 611.3 | 636.5 | 1489.58 | 3110.8 |
| Pivot | 606.2 | 631.5 | 1480.42 | 3051.7 |
| Support 1 | 595.8 | 621.5 | 1466.8 | 3006.8 |
| Support 2 | 590.7 | 616.5 | 1457.67 | 2947.7 |
| Support 3 | 580.3 | 606.5 | 1444.08 | 2902.8 |
5. Economic Reports
All Day EUR
German Prelim CPI m/m
3:30am EUR
ECB President Draghi Speaks
8:30am USD
Unemployment Claims
10:00am USD
Pending Home Sales m/m
10:30am USD
Natural Gas Storage
