Futures Levels & Economic Reports 3.18.2015

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 Levels & Economic Reports 3.18.2015

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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 Wednesday March 18, 2015

Hello Traders,

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

The FOMC interest rate decision is due at 14:00 ET in the US tomorrow ( Wednesday, March 18th ).

FOMC days have different characteristics than other trading days. If you have traded for a while, check your trading notes from past FOMC days that may help you prepare for tomorrow.

If you are a newcomer, take a more conservative approach and make sure you understand that the news can really move the market.

The following are suggestions on trading during FOMC days:

  • Reduce trading size.
  • Be extra picky = no trade is better than a bad trade.
  • Choose entry points wisely. Look at longer time frame support and resistance for entry. Take the approach of entering at points where you normally would have placed protective stops. Example, trader x looking to go long the mini SP at 2035.00 with a stop at 2029.00, instead “stretch the price bands” due to volatility and place an entry order to buy at 2029.75 and place a stop a few points below in this hypothetical example.
  • Expect the higher volatility during and right after the announcement.
  • Expect to see some “vacuum” ( low volume, big zigzags) right before the number.
  • Consider using automated stops and limits attached to your entry order as the market can move very fast at times.
  • Know what the market was expecting, learn what came out and observe market reaction for clues.
  • This is another great example why a trading journal would be an asset, as you can go back and check your notes from previous FOMC days.
  • Be patient and be disciplined.


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 2086.17 4420.75 18040 1251.87 101.02
Resistance 2 2078.33 4399.25 17958 1245.33 100.64
Resistance 1 2071.92 4384.75 17864 1241.27 100.33
Pivot 2064.08 4363.25 17782 1234.73 99.96
Support 1 2057.67 4348.75 17688 1230.67 99.65
Support 2 2049.83 4327.25 17606 1224.13 99.27
Support 3 2043.42 4312.75 17512 1220.07 98.96
Contract Apr. Gold May Silver April Crude Oil June Bonds June   Euro
Resistance 3 1175.2 16.08 45.57 162 21/32 1.0754
Resistance 2 1167.2 15.90 44.89 162 5/32 1.0709
Resistance 1 1157.5 15.72 44.00 161 27/32 1.0654
Pivot 1149.5 15.54 43.32 161 11/32 1.0609
Support 1 1139.8 15.36 42.43 161 1/32 1.0554
Support 2 1131.8 15.18 41.75 160 17/32 1.0509
Support 3 1122.1 15.00 40.86 160 7/32 1.0454
Contract May Corn May Wheat May Beans May SoyMeal April Nat Gas
Resistance 3 382.3 504.8 975.17 329.90 3.01
Resistance 2 379.7 504.5 970.83 327.20 2.93
Resistance 1 375.3 504.0 962.67 322.60 2.89
Pivot 372.7 503.8 958.33 319.90 2.82
Support 1 368.3 503.3 950.2 315.3 2.8
Support 2 365.7 503.0 945.83 312.60 2.70
Support 3 361.3 502.5 937.67 308.00 2.66
5. Economic Reports


All times are Eastern time Zone (EST)


Date 3:45pm Currency Impact Detail Actual Forecast Previous Graph
WedMar 18  5:00am EUR Italian Trade Balance 4.32B 5.76B
6:00am EUR Trade Balance 21.1B 23.3B
Tentative EUR German 10-y Bond Auction 0.37|1.4
10:30am USD Crude Oil Inventories 4.0M 4.5M
2:00pm USD FOMC Economic Projections
USD FOMC Statement
USD Federal Funds Rate <0.25% <0.25%
USD Treasury Sec Lew Speaks
2:30pm USD FOMC Press Conference

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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