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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.

Futures Trading Levels and Economic Reports for July 12, 2013

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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 July 12, 2013

Hello Traders,

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


Thought of the day for you….


Many ways to lose money….very few ways to make money.


1. Have a high winning ratio, allow for bigger stops but the higher winning ratio hopefully translates into higher average winning trades than the average losing trades

2. Have more losers than winners but let winners run in order to have quite a bit larger average winners than average losers.

3. Make sure that when it all said and done the math makes sense….if its on a daily basis, weekly or monthly – as a trader you need to set parameters for targets, stops NOT just on per trade basis but on a daily basis, weekly basis etc.


I wrote a good article about this subject called survivor daytrader. If you like a copy, please email me with the following:



Client: yes or no

Current trading software:

And I will be happy to email you the PDF file.

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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 1689.58 3118.33 15564 1039.53 84.16
Resistance 2 1680.67 3088.17 15491 1035.57 83.79
Resistance 1 1675.33 3071.83 15444 1032.63 83.33
Pivot 1666.42 3041.67 15371 1028.67 82.97
Support 1 1661.08 3025.33 15324 1025.73 82.51
Support 2 1652.17 2995.17 15251 1021.77 82.14
Support 3 1646.83 2978.83 15204 1018.83 81.68
Contract August Gold Sept. Silver August Crude Oil Sept. Bonds  Sept. Euro
Resistance 3 1335.8 2125.3 109.74 136  3/32 1.3411
Resistance 2 1316.5 2075.2 108.59 135 14/32 1.3311
Resistance 1 1300.7 2043.3 106.60 134 29/32 1.3207
Pivot 1281.4 1993.2 105.45 134  8/32 1.3107
Support 1 1265.6 1961.3 103.46 133 23/32 1.3003
Support 2 1246.3 1911.2 102.31 133  2/32 1.2903
Support 3 1230.5 1879.3 100.32 132 17/32 1.2799
Contract Dec Corn Sept. Wheat Nov.Beans Dec. SoyMeal Dec. bean Oil
Resistance 3 549.2 699.8 1318.17 403.13 46.98
Resistance 2 538.3 696.0 1305.58 395.77 46.71
Resistance 1 532.7 689.5 1298.17 391.93 46.21
Pivot 521.8 685.8 1285.58 384.57 45.94
Support 1 516.2 679.3 1278.2 380.7 45.4
Support 2 505.3 675.5 1265.58 373.37 45.17
Support 3 499.7 669.0 1258.17 369.53 44.67
For complete contract specifications for the futures markets listed above click here!

5. Economic Reports


All times are Eastern time Zone (EST)

Date 4:01pm Currency Impact Detail Actual Forecast Previous Graph
FriJul 12  5:00am EUR Industrial Production m/m -0.2% 0.4%
8:30am USD PPI m/m 0.5% 0.5%
USD Core PPI m/m 0.2% 0.1%
9:55am USD Prelim UoM Consumer Sentiment 85.3 84.1
USD Prelim UoM Inflation Expectations 3.1% 3.2%
1:00pm 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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