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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 July 16, 2014

Hello Traders,

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


Took a few days off from the markets and came back to see some zig zag action as Yellen was talking.

One must know what reports are coming out and also keep a journal so you have reference as far as different reports and how they affect the markets you are trading. In general I think a trading journal is a must for any serious trader, as we are are only humans and can only remember so much. Writing down different aspects of market behavior as well as your behavior can be valuable.


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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.  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 1994.08 3990.67 17159 1185.20 80.84
Resistance 2 1985.17 3962.08 17102 1175.10 80.66
Resistance 1 1976.58 3937.17 17046 1163.50 80.55
Pivot 1967.67 3908.58 16989 1153.40 80.36
Support 1 1959.08 3883.67 16933 1141.80 80.25
Support 2 1950.17 3855.08 16876 1131.70 80.07
Support 3 1941.58 3830.17 16820 1120.10 79.96
Contract August Gold Sept.Silver August Crude Oil September Bonds Sept. Euro
Resistance 3 1330.6 2148.0 103.03 138 3/32 1.3680
Resistance 2 1322.5 2130.5 102.05 137 23/32 1.3656
Resistance 1 1308.8 2102.0 100.98 137 9/32 1.3613
Pivot 1300.7 2084.5 100.00 136 29/32 1.3589
Support 1 1287.0 2056.0 98.93 136 15/32 1.3546
Support 2 1278.9 2038.5 97.95 136 3/32 1.3522
Support 3 1265.2 2010.0 96.88 135 21/32 1.3479
Contract Dec Corn Sept. Wheat Nov. Beans Dec. SoyMeal Dec. bean Oil
Resistance 3 390.0 537.8 1107.00 357.07 37.86
Resistance 2 387.3 537.8 1096.75 353.33 37.48
Resistance 1 384.5 537.8 1091.50 350.27 37.30
Pivot 381.8 537.8 1081.25 346.53 36.92
Support 1 379.0 537.8 1076.0 343.5 36.7
Support 2 376.3 537.8 1065.75 339.73 36.36
Support 3 373.5 537.8 1060.50 336.67 36.18
5. Economic Reports


All times are Eastern time Zone (EST)

Date 4:38pm Currency Impact Detail Actual Forecast Previous Graph
WedJul 16  4:00am EUR Italian Trade Balance 3.23B 3.51B
5:00am EUR Trade Balance 16.3B 15.8B
Tentative EUR German 10-y Bond Auction 1.39|1.2
8:30am USD PPI m/m 0.2% -0.2%
USD Core PPI m/m 0.2% -0.1%
9:00am USD TIC Long-Term Purchases 27.4B -24.2B
9:15am USD Capacity Utilization Rate 79.4% 79.1%
USD Industrial Production m/m 0.4% 0.6%
10:00am USD Fed Chair Yellen Testifies
USD NAHB Housing Market Index 51 49
10:30am USD Crude Oil Inventories -2.1M -2.4M
12:00pm USD FOMC Member Fisher Speaks
2:00pm USD Beige Book

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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