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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 Wednesday January 14, 2015

Hello Traders,

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

Very volatile day in stock index futures and energy markets along with grains and a few others….

30 minutes ago I was planning to write on how today’s action may be a bearish signal but then stocks rebounded to close near the unchanged level and lead me to believe that we still need to see a decision day/point where either the bulls or the bears take the market sharply higher/ lower….

Mini Russell 2000 daily chart for your review. My opinion is that the Russell been some what of a leader in the volatile moves we have seen.

Wide range today and I am tempted to say, I would be on the sidelines waiting to see if we can break above 1200 or below 1162 before having a directional bias for the short-medium term.


TFE - Russell 2000 Index Mini, Equalized Active Daily Continuation (Delayed by 10 Mins.) : Heikin-Ashi

TFE – Russell 2000 Index Mini, Equalized Active Daily Continuation (Delayed by 10 Mins.) : Heikin-Ashi

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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 March 2015 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 2096.08 4351.08 18231 1234.17 93.33
Resistance 2 2073.92 4299.42 18042 1216.83 92.98
Resistance 1 2045.33 4230.08 17793 1197.37 92.72
Pivot 2023.17 4178.42 17604 1180.03 92.37
Support 1 1994.58 4109.08 17355 1160.57 92.11
Support 2 1972.42 4057.42 17166 1143.23 91.76
Support 3 1943.83 3988.08 16917 1123.77 91.50
Contract Feb. Gold Mar.Silver Feb. Crude Oil Mar. Bonds March   Euro
Resistance 3 1258.2 17.96 50.12 150 15/32 1.1949
Resistance 2 1251.4 17.59 48.45 149 25/32 1.1908
Resistance 1 1241.1 17.32 47.53 149 2/32 1.1842
Pivot 1234.3 16.94 45.86 148 12/32 1.1801
Support 1 1224.0 16.67 44.94 147 21/32 1.1735
Support 2 1217.2 16.30 43.27 146 31/32 1.1694
Support 3 1206.9 16.03 42.35 146 8/32 1.1628
Contract March Corn March Wheat March Beans March SoyMeal March bean Oil
Resistance 3 420.3 566.8 1040.00 353.23 33.01
Resistance 2 413.3 563.0 1032.00 349.07 32.88
Resistance 1 399.5 555.5 1018.00 341.33 32.71
Pivot 392.5 551.8 1010.00 337.17 32.58
Support 1 378.8 544.3 996.0 329.4 32.4
Support 2 371.8 540.5 988.00 325.27 32.28
Support 3 358.0 533.0 974.00 317.53 32.11
5. Economic Reports


All times are Eastern time Zone (EST)


Date 4:08pm Currency Impact Detail Actual Forecast Previous Graph
ThuJan 15 16th-17th CNY New Loans 885B 853B
5:00am EUR Trade Balance 21.3B 19.4B
8:30am USD PPI m/m -0.3% -0.2%
USD Unemployment Claims 299K 294K
USD Core PPI m/m 0.2% 0.0%
USD Empire State Manufacturing Index 5.3 -3.6
10:00am USD Philly Fed Manufacturing Index 20.3 24.5
10:30am USD Natural Gas Storage -131B
11:15am EUR German Buba President Weidmann Speaks
6:50pm JPY Tertiary Industry Activity m/m 0.3% -0.2%
16th-18th NZD REINZ HPI m/m 3.3%
16th-19th CNY Foreign Direct Investment ytd/y 0.7%

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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