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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 Friday August 2, 2013

Hello Traders,

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

As happened more than a few times in the past, the real direction/ reaction to the FOMC comes the following day and the reaction this time was a 21+ point rally on the SP500.

Tomorrow we have monthly unemployment along with a few other reports here in the US and in Europe that can either confirm this rally or cool off the recent surge in buying – either way I expect some volatility tomorrow.

Below is a daily chart of the mini SP500 with some potential Fibonacci extensions. Next key level on the way up is 1710 and key support or possible “trend changing level” is 1676.

I wish all of you successful, patient and disciplined trading during the month of August!

EP - E Mini S&P 500, Equalized Active Daily Continuation

EP – E Mini S&P 500, Equalized Active Daily Continuation


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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.


Futures Trading Levels

Contract Sept. 2013 SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell Dollar Index
Resistance 3 1728.42 3167.17 15738 1078.67 83.54
Resistance 2 1716.08 3145.33 15667 1069.13 83.02
Resistance 1 1709.17 3132.42 15615 1062.87 82.73
Pivot 1696.83 3110.58 15544 1053.33 82.21
Support 1 1689.92 3097.67 15492 1047.07 81.93
Support 2 1677.58 3075.83 15421 1037.53 81.41
Support 3 1670.67 3062.92 15369 1031.27 81.12
Contract Dec. Gold Sept. Silver Sept. Crude Oil Sept. Bonds Sept. Euro
Resistance 3 1348.4 2032.8 111.75 135 30/32 1.3404
Resistance 2 1339.6 2014.2 109.91 135 2/32 1.3358
Resistance 1 1324.8 1988.3 108.79 133 23/32 1.3284
Pivot 1316.0 1969.7 106.95 132 27/32 1.3238
Support 1 1301.2 1943.8 105.83 131 16/32 1.3164
Support 2 1292.4 1925.2 103.99 130 20/32 1.3118
Support 3 1277.6 1899.3 102.87 129 9/32 1.3044
Contract Dec Corn Sept. Wheat Nov.Beans Dec. SoyMeal Dec. bean Oil
Resistance 3 483.4 672.0 1217.33 374.40 43.43
Resistance 2 479.3 666.5 1211.17 370.60 43.31
Resistance 1 473.2 662.3 1201.83 364.90 43.12
Pivot 469.1 656.8 1195.67 361.10 43.00
Support 1 462.9 652.5 1186.3 355.4 42.8
Support 2 458.8 647.0 1180.17 351.60 42.69
Support 3 452.7 642.8 1170.83 345.90 42.50
For complete contract specifications for the futures markets listed above click here!

5. Economic Reports


All times are Eastern time Zone (EST)


Date 4:16pm Currency Impact Detail Actual Forecast Previous Graph
FriAug 2  3:00am EUR Spanish Unemployment Change -80.0K -127.2K
5:00am EUR PPI m/m 0.1% -0.3%
8:30am USD Non-Farm Employment Change 184K 195K
USD Unemployment Rate 7.5% 7.6%
USD Average Hourly Earnings m/m 0.2% 0.4%
USD Core PCE Price Index m/m 0.1% 0.1%
USD Personal Income m/m 0.5% 0.5%
USD Personal Spending m/m 0.5% 0.3%
10:00am USD Factory Orders m/m 2.3% 2.1%
12:15pm USD FOMC Member Bullard 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

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