Futures Chart Patterns & Economic Reports 6.04.2015

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.

Futures Chart Patterns & Economic Reports 6.04.2015

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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 June 4, 2015

Hello Traders,

For 2015 I would like to wish all of you discipline and patience in your trading!

Hello Traders, 

Before Your next Trade, learn to recognize charts and patterns!

Learning the different types of charts and patterns will be another arsenal in your Trading Tools!

Ascending Triangle Futures Trading Chart Pattern

What is an Ascending Triangle Futures Chart Pattern?

An ascending triangle is a bullish futures pattern that can indicate a breakout in the upwards direction.

How do I Recognize an Ascending Triangle Futures Chart Pattern?

An ascending triangle is formed when resistance remains flat and support rises.

See the example below:

What Does a Ascending Triangle Chart Pattern Mean?

The price will rise and fall within the triangle until support and resistance converge. At that point, the apex, breakout occurs, usually upwards.

Broadening Top Futures Trading Chart Pattern

What is a Broadening Top Futures Chart Pattern?

A broadening top is a futures chart pattern that can occur on an upwards trend. It is generally classified as a reversal pattern but some traders argue that there is approximately a 50/50 split between whether it tends to move upwards or downwards upon completion of the pattern. For this reason, it can often be avoided by traders. It can be viewed as the opposite of a symmetrical triangle.

How Do I Recognize a Broadening Top Futures Chart Pattern?

A broadening top is comprised of diverging support and resistance lines and resembles a megaphone. The rising resistance line and falling support line continue until the trend reverses.

To download the remaining PDFs on Recognizing Charts and Patterns,click here.



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 2015 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 2135.25 4581.92 18332 1285.47 97.56
Resistance 2 2128.00 4561.33 18248 1275.23 97.07
Resistance 1 2121.25 4542.42 18166 1269.87 96.21
Pivot 2114.00 4521.83 18082 1259.63 95.72
Support 1 2107.25 4502.92 18000 1254.27 94.87
Support 2 2100.00 4482.33 17916 1244.03 94.38
Support 3 2093.25 4463.42 17834 1238.67 93.52
Contract Aug. Gold July Silver July Crude Oil Sept. Bonds June   Euro
Resistance 3 1211.0 17.16 63.06 154 7/32 1.1554
Resistance 2 1203.3 16.98 62.24 153 5/32 1.1421
Resistance 1 1194.5 16.74 60.97 151 14/32 1.1347
Pivot 1186.8 16.56 60.15 150 12/32 1.1214
Support 1 1178.0 16.32 58.88 148 21/32 1.1140
Support 2 1170.3 16.14 58.06 147 19/32 1.1007
Support 3 1161.5 15.90 56.79 145 28/32 1.0933
Contract July Corn July Wheat July Beans July SoyMeal July Nat Gas
Resistance 3 366.9 525.6 956.33 310.57 2.80
Resistance 2 364.8 521.9 950.92 307.63 2.76
Resistance 1 361.9 516.3 943.08 305.17 2.70
Pivot 359.8 512.7 937.67 302.23 2.66
Support 1 356.9 507.1 929.8 299.8 2.6
Support 2 354.8 503.4 924.42 296.83 2.56
Support 3 351.9 497.8 916.58 294.37 2.50
5. Economic Reports


All times are Eastern time Zone (EST)

Date 4:09pm Currency Impact Detail Actual Forecast Previous Graph
ThuJun 4  4:10am EUR Retail PMI 49.5
Tentative EUR French 10-y Bond Auction 0.98|1.7
7:30am USD Challenger Job Cuts y/y 52.8%
8:30am USD Unemployment Claims 280K 282K
USD Revised Nonfarm Productivity q/q -2.8% -1.9%
USD Revised Unit Labor Costs q/q 5.8% 5.0%
10:30am USD Natural Gas Storage 119B 112B
12:00pm USD FOMC Member Tarullo Speaks

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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