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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 April 24, 2013

Hello Traders,

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


 Today we witnessed the possibility of erratic moves in the futures market.

From what I am reading, false rumors generated by hackers hit the news with: Explosions in the White House, Obama is hurt….
That resulted in the SP futures dropping 18 full points in matter of minutes.  An intraday chart of mini SP 500 for your review below. Note the huge price drop and volume between 12:06 and 12:12 central time.

That brings me to a point that I like to share, using “auto brackets when entering a trade”. This is my personal preference but when I enter day-trades, I like my software to immediately generate a stop and a limit**. I have the ability to modify these stops/ targets but at least I have orders in the system. This can help in situations like today, when different reports come out etc.

Most of our trading platforms have that ability of auto brackets and you can test drive two of my favorite platforms for free:



mini sp intraday chart



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.


Futures Trading Levels

Contract June 2013  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell Dollar Index
Resistance 3 1608.58 2904.50 14941 955.43 83.89
Resistance 2 1591.67 2871.75 14801 941.67 83.55
Resistance 1 1582.58 2850.50 14724 934.33 83.34
Pivot 1565.67 2817.75 14584 920.57 83.00
Support 1 1556.58 2796.50 14507 913.23 82.79
Support 2 1539.67 2763.75 14367 899.47 82.45
Support 3 1530.58 2742.50 14290 892.13 82.24
Contract June Gold May Silver June Crude Oil June Bonds  June Euro
Resistance 3 1458.6 2420.8 91.54 150  6/32 1.3185
Resistance 2 1445.7 2380.7 90.48 149 22/32 1.3137
Resistance 1 1429.8 2335.8 89.91 148 27/32 1.3072
Pivot 1416.9 2295.7 88.85 148 11/32 1.3024
Support 1 1401.0 2250.8 88.28 147 16/32 1.2959
Support 2 1388.1 2210.7 87.22 147 1.2911
Support 3 1372.2 2165.8 86.65 146  5/32 1.2846
Contract July Corn July Wheat July Beans July SoyMeal July bean Oil
Resistance 3 624.7 699.3 1383.00 406.60 49.02
Resistance 2 622.3 697.5 1376.00 404.30 48.78
Resistance 1 618.2 696.5 1367.25 401.10 48.60
Pivot 615.8 694.8 1360.25 398.80 48.36
Support 1 611.7 693.8 1351.5 395.6 48.2
Support 2 609.3 692.0 1344.50 393.30 47.94
Support 3 605.2 691.0 1335.75 390.10 47.76
For complete contract specifications for the futures markets listed above click here!

5. Economic Reports


All times are Eastern time Zone (EST)

Date 3:54pm Currency Impact Detail Actual Forecast Previous Graph
WedApr 24  4:00am EUR German Ifo Business Climate 106.4 106.7
EUR Italian Retail Sales m/m 0.4% -0.5%
Tentative EUR German 30-y Bond Auction 2.45|1.8
8:30am USD Core Durable Goods Orders m/m 0.5% -0.7%
USD Durable Goods Orders m/m -2.9% 5.6%
9:00am EUR Belgium NBB Business Climate -14.3 -15.0
9:30am USD Treasury Sec Lew Speaks
10:30am USD Crude Oil Inventories 1.8M -1.2M

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

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