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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.

Futures Levels & Economic Reports 7.09.2014

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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 July 9, 2014

Hello Traders,

For 2014 I would like to wish all of you discipline and patience in your trading!

I am not sure if it is the overbought conditions stock index futures are in, perhaps fear of the start of earning season or maybe it is the tense situation over in Israel/ Middle East – but the result today was one of the more meaningful down days of the last few months along with above avg. volume.

Not sure it is anything more than normal market action after indices made all time highs last week….I am a little more skeptic now days when it comes to the short side of the indices. That been said, if September SP500 can break below 1952 ( just a bit below today’s lows) I think we have higher chances of a continuation lower.

In between, know what time frame you are trading, know your rules, your objectives, accept the fact that you will have good and bad trading days and measure your progress after you define what it is.

If you like the information we share? We would appreciate your positive reviews on our new yelp!!

GOOD TRADING  and review us on Elite Trader!

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.  Past performance is not indicative to future results.

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Futures Trading Levels

Contract Sept. 2014 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 1987.92 3965.08 17096 1202.57 80.48
Resistance 2 1979.33 3935.92 17024 1192.53 80.41
Resistance 1 1969.92 3899.58 16940 1181.97 80.32
Pivot 1961.33 3870.42 16868 1171.93 80.26
Support 1 1951.92 3834.08 16784 1161.37 80.17
Support 2 1943.33 3804.92 16712 1151.33 80.10
Support 3 1933.92 3768.58 16628 1140.77 80.01
Contract August Gold Sept.Silver August Crude Oil September Bonds Sept. Euro
Resistance 3 1337.5 2153.2 105.35 137 24/32 1.3656
Resistance 2 1331.6 2138.8 104.78 137 9/32 1.3638
Resistance 1 1326.1 2124.2 104.16 136 30/32 1.3627
Pivot 1320.2 2109.8 103.59 136 15/32 1.3609
Support 1 1314.7 2095.2 102.97 136 4/32 1.3598
Support 2 1308.8 2080.8 102.40 135 21/32 1.3580
Support 3 1303.3 2066.2 101.78 135 10/32 1.3569
Contract Dec Corn Sept. Wheat Nov. Beans Dec. SoyMeal Dec. bean Oil
Resistance 3 410.9 562.5 1123.50 364.87 38.80
Resistance 2 409.1 560.8 1121.75 362.83 38.62
Resistance 1 406.7 558.5 1119.00 360.07 38.30
Pivot 404.8 556.8 1117.25 358.03 38.12
Support 1 402.4 554.5 1114.5 355.3 37.8
Support 2 400.6 552.8 1112.75 353.23 37.62
Support 3 398.2 550.5 1110.00 350.47 37.30
5. Economic Reports


All times are Eastern time Zone (EST)

Date 4:03pm Currency Impact Detail Actual Forecast Previous Graph
WedJul 9  10:30am USD Crude Oil Inventories -3.2M
1:01pm USD 10-y Bond Auction 2.65|2.9
2:00pm USD FOMC Meeting Minutes
2:30pm EUR ECB President Draghi 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.

Tags: > > Posted in: Commodity Brokers   | Index Futures  

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