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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 May 21, 2014

Hello Traders,

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



I mentioned yesterday that we have good chances of higher volume / volatility move after the very low energy day we saw to start the week, and I was right (for a change (-:

SP500 finished down 14 points and traded about 1.5 million contracts, almost 60% more than we did on Monday.

We got a few more reports tomorrow morning followed by FOMC minutes (1 PM central)  which is a market MOVER event so my thought is that we may see some additional volatility tomorrow.


Why am I discussing this topic for two days in a row now?


I think that different types of trading days require different trading approaches/ strategies and if that you can assess quickly if this is a range bound day or more volatile / larger moves days EARLY enough, it may save you from trying to “average up/down” to soon or you may have better chances with break out strategies etc.



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


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 2014  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell Dollar Index
Resistance 3 1899.83 3657.92 16654 1134.80 80.27
Resistance 2 1892.17 3640.83 16579 1124.50 80.22
Resistance 1 1880.08 3618.67 16459 1109.20 80.16
Pivot 1872.42 3601.58 16384 1098.90 80.11
Support 1 1860.33 3579.42 16264 1083.60 80.04
Support 2 1852.67 3562.33 16189 1073.30 79.99
Support 3 1840.58 3540.17 16069 1058.00 79.93
Contract June Gold July Silver July Crude Oil June Bonds  June Euro
Resistance 3 1310.3 1974.5 103.69 138 12/32 1.3751
Resistance 2 1303.7 1960.5 103.13 137 31/32 1.3732
Resistance 1 1299.1 1950.5 102.80 137 18/32 1.3715
Pivot 1292.5 1936.5 102.24 137  5/32 1.3696
Support 1 1287.9 1926.5 101.91 136 24/32 1.3679
Support 2 1281.3 1912.5 101.35 136 11/32 1.3660
Support 3 1276.7 1902.5 101.02 135 30/32 1.3643
Contract July Corn July Wheat July Beans July SoyMeal July bean Oil
Resistance 3 484.7 671.8 1518.50 508.43 40.66
Resistance 2 482.3 671.2 1508.75 503.77 40.49
Resistance 1 477.9 670.8 1489.25 495.23 40.28
Pivot 475.6 670.2 1479.50 490.57 40.11
Support 1 471.2 669.8 1460.0 482.0 39.9
Support 2 468.8 669.2 1450.25 477.37 39.73
Support 3 464.4 668.8 1430.75 468.83 39.52
5. Economic Reports


All times are Eastern time Zone (EST)

Date 3:51pm Currency Impact Detail Actual Forecast Previous Graph
WedMay 21  4:00am EUR Current Account 24.2B 21.9B
Tentative EUR German 10-y Bond Auction 1.49|1.3
10:00am EUR Consumer Confidence -8 -9
USD FOMC Member Dudley Speaks
10:30am USD Crude Oil Inventories -0.1M 0.9M
11:30am USD Fed Chair Yellen Speaks
1:30pm USD FOMC Member Kocherlakota Speaks
2:00pm USD FOMC Meeting Minutes

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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