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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 Thursday April 18, 2013

Hello Traders,

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

The higher volatility in stock index futures continued today as well. If one looks at the ATR ( avg. True range) in the daily chart below, you can see how the daily ranges have expanded over the past few days.

PERSONALLY, I like it. I prefer day-trading futures when there is a bit more range and volatility but then again every trader is different and one must know what risks and opporunities different market enviroments present.


As far as market outlook, almost a flip of a coin at the time I am writing this but my speculation leans towards lower prices, especially if we can break 1534.


mini sp daily 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 1598.00 2893.17 14877 943.27 84.02
Resistance 2 1583.75 2861.83 14784 931.83 83.42
Resistance 1 1566.50 2820.92 14680 918.17 83.09
Pivot 1552.25 2789.58 14587 906.73 82.49
Support 1 1535.00 2748.67 14483 893.07 82.17
Support 2 1520.75 2717.33 14390 881.63 81.57
Support 3 1503.50 2676.42 14286 867.97 81.24
Contract June Gold May Silver May Crude Oil June Bonds  June Euro
Resistance 3 1421.3 2457.8 91.62 149 26/32 1.3360
Resistance 2 1408.3 2415.2 90.35 149  7/32 1.3282
Resistance 1 1391.1 2368.8 88.59 148 19/32 1.3161
Pivot 1378.1 2326.2 87.32 148 1.3083
Support 1 1360.9 2279.8 85.56 147 12/32 1.2962
Support 2 1347.9 2237.2 84.29 146 25/32 1.2884
Support 3 1330.7 2190.8 82.53 146  5/32 1.2763
Contract July Corn July Wheat July Beans July SoyMeal July bean Oil
Resistance 3 647.8 716.2 1408.00 408.80 50.78
Resistance 2 645.9 713.1 1398.00 405.10 50.22
Resistance 1 643.6 710.2 1389.00 402.20 49.83
Pivot 641.7 707.1 1379.00 398.50 49.27
Support 1 639.3 704.2 1370.0 395.6 48.9
Support 2 637.4 701.1 1360.00 391.90 48.32
Support 3 635.1 698.2 1351.00 389.00 47.93
For complete contract specifications for the futures markets listed above click here!

5. Economic Reports


All times are Eastern time Zone (EST)

Date 3:51pm Currency Impact Detail Actual Forecast Previous Graph
ThuApr 18 Tentative EUR Spanish 10-y Bond Auction 4.48|2.1
8:30am USD Unemployment Claims 349K 346K
10:00am USD Philly Fed Manufacturing Index 2.7 2.0
USD CB Leading Index m/m 0.1% 0.5%
10:30am USD Natural Gas Storage 35B -14B
Day 1 ALL G20 Meetings
12:00pm USD FOMC Member Raskin 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  

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