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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.


Jump to a section in this post:

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 Tuesday April 16, 2013

Hello Traders,

For 2013 I would like to wish all of you discipline and patience in your trading! 

Some extreme volatility in the markets to start the week. Historical price moves in gold and silver as well as big moves in crude oil as well as stock indices.

I have been mentioning over the past few weeks that the volatility cycle, which has been very low is due to move into higher volatility. It seems from the action in the markets that this may be the start.

My opinion is that if you are a day-trader you need to understand that we are starting a higher volatility period. I recommend adjusting accordingly and I think the wise thing to do is lower the number of contracts you buy/sell per trade and be aware of the higher time frames on the charts.

Be prepared for wider swings which may require wider stops and probably being a little more selective on entry points.

Weekly chart of the June SP500 mini below for your review. I think that 1543 and 1524 stick out as near term important levels.


 weekly mini sp 500 chart




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.


Futures Trading Levels

Contract June 2013  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell Dollar Index
Resistance 3 1609.00 2896.17 14990 968.00 82.98
Resistance 2 1596.00 2873.58 14894 953.90 82.76
Resistance 1 1572.50 2834.92 14723 929.30 82.62
Pivot 1559.50 2812.33 14627 915.20 82.41
Support 1 1536.00 2773.67 14456 890.60 82.27
Support 2 1523.00 2751.08 14360 876.50 82.05
Support 3 1499.50 2712.42 14189 851.90 81.91
Contract June Gold May Silver May Crude Oil June Bonds  June Euro
Resistance 3 1599.4 2835.8 93.20 149 22/32 1.3172
Resistance 2 1547.2 2720.2 92.09 149 1.3143
Resistance 1 1452.9 2504.3 90.08 148 18/32 1.3093
Pivot 1400.7 2388.7 88.97 147 28/32 1.3064
Support 1 1306.4 2172.8 86.96 147 14/32 1.3014
Support 2 1254.2 2057.2 85.85 146 24/32 1.2985
Support 3 1159.9 1841.3 83.84 146 10/32 1.2935
Contract May Corn May Wheat May Beans May SoyMeal May bean Oil
Resistance 3 661.2 714.2 1433.00 409.13 50.11
Resistance 2 657.6 708.6 1425.00 405.57 49.71
Resistance 1 652.2 701.2 1410.00 399.43 48.94
Pivot 648.6 695.6 1402.00 395.87 48.54
Support 1 643.2 688.2 1387.0 389.7 47.8
Support 2 639.6 682.6 1379.00 386.17 47.37
Support 3 634.2 675.2 1364.00 380.03 46.60
For complete contract specifications for the futures markets listed above click here!

5. Economic Reports


All times are Eastern time Zone (EST)

Date 4:00pm Currency Impact Detail Actual Forecast Previous Graph
TueApr 16  4:00am EUR Italian Trade Balance -1.41B -1.62B
5:00am EUR German ZEW Economic Sentiment 41.5 48.5
EUR CPI y/y 1.7% 1.7%
EUR Core CPI y/y 1.4% 1.3%
EUR ZEW Economic Sentiment 31.5 33.4
8:00am USD FOMC Member Dudley Speaks
8:30am USD Building Permits 0.94M 0.94M
USD Core CPI m/m 0.2% 0.2%
USD CPI m/m 0.0% 0.7%
USD Housing Starts 0.93M 0.92M
9:00am EUR ECB President Draghi Speaks
9:15am USD Capacity Utilization Rate 78.4% 79.6%
USD Industrial Production m/m 0.3% 0.7%
10:00am USD Treasury Sec Lew Speaks
12:00pm USD FOMC Member Duke Speaks
3:00pm USD FOMC Member Yellen Speaks
USD Treasury Sec Lew 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 herein 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: Future Trading News   | Metal Futures  

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