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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 Friday January 23, 2015

Hello Traders,

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

In hindsight it always looks easier…ECB announces QE – “We should have known it was going up….”  In reality the market was very jittery to start the cash session with some very sharp moves lower before it started running up and up….

I think that when this is all said and done, one day down the road, the end result will NOT be pretty for global markets but until then we need to trade what there is and not what we think should be…..

My medium term outlook on Silver Futures as featured in ForexMagnates.com available at:


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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 2110.25 4402.75 18237 1230.60 97.33
Resistance 2 2084.75 4335.50 18006 1209.20 96.00
Resistance 1 2070.25 4299.00 17871 1198.40 95.33
Pivot 2044.75 4231.75 17640 1177.00 94.00
Support 1 2030.25 4195.25 17505 1166.20 93.33
Support 2 2004.75 4128.00 17274 1144.80 92.00
Support 3 1990.25 4091.50 17139 1134.00 91.33
Contract Feb. Gold Mar.Silver March Crude Oil Mar. Bonds March   Euro
Resistance 3 1342.5 19.20 51.66 152 14/32 1.1887
Resistance 2 1325.2 18.84 50.37 151 5/32 1.1777
Resistance 1 1313.8 18.60 48.44 149 30/32 1.1559
Pivot 1296.5 18.24 47.15 148 21/32 1.1449
Support 1 1285.1 18.00 45.22 147 14/32 1.1231
Support 2 1267.8 17.64 43.93 146 5/32 1.1121
Support 3 1256.4 17.40 42.00 144 30/32 1.0903
Contract March Corn March Wheat March Beans March SoyMeal March bean Oil
Resistance 3 393.9 540.8 995.67 342.93 32.55
Resistance 2 391.6 539.4 991.58 339.37 32.40
Resistance 1 387.7 536.6 984.17 334.73 32.19
Pivot 385.3 535.2 980.08 331.17 32.04
Support 1 381.4 532.3 972.7 326.5 31.8
Support 2 379.1 530.9 968.58 322.97 31.68
Support 3 375.2 528.1 961.17 318.33 31.47
5. Economic Reports


All times are Eastern time Zone (EST)

Date 4:24pm Currency Impact Detail Actual Forecast Previous Graph
FriJan 23  3:00am EUR French Flash Manufacturing PMI 48.1 47.5
EUR French Flash Services PMI 50.9 50.6
3:30am EUR German Flash Manufacturing PMI 51.8 51.2
EUR German Flash Services PMI 52.6 52.1
4:00am EUR Flash Manufacturing PMI 51.0 50.6
EUR Flash Services PMI 52.1 51.6
Day 3 ALL WEF Annual Meetings
4:30am GBP Retail Sales m/m -0.6% 1.6%
9:00am EUR Belgian NBB Business Climate -6.1 -6.9
9:45am USD Flash Manufacturing PMI 54.1 53.9
10:00am USD Existing Home Sales 5.08M 4.93M
USD CB Leading Index m/m 0.5% 0.6%

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.


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

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