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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 May 24, 2013

Hello Traders,

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

 

Memorial Day Holiday Schedule for CME / Globex and ICE Exchanges

All times listed as Central Time

Friday, May 24

  • CME & CBOT Equity Products

4:15 P.M. – regular close

  • ICE Equity Products

Russell Index contracts: 4:15 P.M. Central Time – early close

  • CME & CBOT Interest Rate & FX Products

3:15 P.M. Central Time – early close

  • CBOTKCBT Grain & Agricultural Products

Regular close – per each product schedule

Note: Grain pre-opening between 2:30 P.M. – 4:00 P.M.

  • Other CME Group Products

Regular Close per each product schedule for:

Livestock, Weather, Real Estate, Lumber, Dairy

  • ICE SoftsCash-Settled Grains

Regular Close per each product

  • ICE USDX and Forex

2:15 P.M. – early close

Sunday, May 26

  • CME & CBOT Equity Products

5:00 P.M. – regular open for trade date Tuesday, May 28*

  • CME & CBOT Interest Rate & FX Products

5:00 P.M. – regular open for trade date Tuesday, May 28*

  • CBOT, KCBT Grain & Agricultural Products

4:00 P.M. Grain markets pre-open for trade date Tuesday, May 28

  • Other CME Group Products

5:00 P.M – Regular open for trade date Tuesday, May 28*

Exceptions: Dairy, Weather products will remain closed until 5:00 P.M. on Monday; Lumber will remain closed until its scheduled opening 9:00 A.M. on Tuesday; Livestock will remain closed until its scheduled opening 9:05 A.M. on Tuesday

More details at: http://www.cmegroup.com/tools-information/holiday-calendar/files/2013-memorial-day.pdf

Monday, May 27

  • CME & CBOT Equity Products

10:30 A.M. – Trading halt (order entry, modification and cancellation allowed)

5:00 P.M.: Halted products resume trading

  • CME & CBOT Interest Rate & FX Products

12:00 P.M. – Trading halt (order entry, modification and cancellation allowed)

5:00 P.M. – Halted products resume trading

  • NYMEX & COMEX Products

12:15 P.M. – trading halt (order entry, modification and cancellation allowed)

5:00 P.M. – Halted products resume trading

  • CBOT, KCBT Grain & Agricultural Products

7:00 P.M. – Grain markets open for trade date Tuesday, May 28

  • ICE Softs, Cash-Settled Grains

CLOSED

  • ICE FOREX, USDX

Early close at 12:00 P.M.

  • Russell INDEX

Early close 10:30 A.M.

More details at: https://www.theice.com/marketdata/Calendar.shtml?calendars=Holiday&expirationEnabled=false&calendars=SpecialTradingHours

The above sources were compiled from sources believed to be reliable.  Cannon Trading assumes no responsibility for any errors or omissions.  It is meant as an alert to events that may affect trading strategies and is not necessarily complete.  The closing times for certain contracts may have been rescheduled.

 

 

 

 

 

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GOOD TRADING

 

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 1687.50 3060.50 15573 1007.37 85.27
Resistance 2 1673.25 3034.50 15459 996.43 84.93
Resistance 1 1661.25 3013.25 15371 989.87 84.34
Pivot 1647.00 2987.25 15257 978.93 84.00
Support 1 1635.00 2966.00 15169 972.37 83.41
Support 2 1620.75 2940.00 15055 961.43 83.07
Support 3 1608.75 2918.75 14967 954.87 82.48
Contract June Gold July Silver July Crude Oil June Bonds  June Euro
Resistance 3 1449.2 2356.8 97.39 145 28/32 1.3128
Resistance 2 1423.1 2310.7 95.91 145 1.3043
Resistance 1 1407.1 2284.3 95.16 144  2/32 1.2992
Pivot 1381.0 2238.2 93.68 143  6/32 1.2907
Support 1 1365.0 2211.8 92.93 142  8/32 1.2856
Support 2 1338.9 2165.7 91.45 141 12/32 1.2771
Support 3 1322.9 2139.3 90.70 140 14/32 1.2720
Contract July Corn July Wheat July Beans July SoyMeal July bean Oil
Resistance 3 685.8 718.8 1584.00 464.33 51.12
Resistance 2 677.7 711.4 1562.50 457.87 50.69
Resistance 1 669.8 707.3 1531.00 447.43 50.17
Pivot 661.7 699.9 1509.50 440.97 49.74
Support 1 653.8 695.8 1478.0 430.5 49.2
Support 2 645.7 688.4 1456.50 424.07 48.79
Support 3 637.8 684.3 1425.00 413.63 48.27
For complete contract specifications for the futures markets listed above click here!

5. Economic Reports

source:http://www.forexfactory.com/calendar.php

All times are Eastern time Zone (EST)

Date 4:00pm Currency Impact Detail Actual Forecast Previous Graph
FriMay 24  2:00am EUR GfK German Consumer Climate 6.2 6.2
EUR German Final GDP q/q 0.1% 0.1%
4:00am EUR German Ifo Business Climate 104.6 104.4
6:00am EUR German Buba President Weidmann Speaks
8:30am USD Core Durable Goods Orders m/m 0.6% -1.5%
USD Durable Goods Orders m/m 1.6% -6.9%
9:00am EUR Belgium NBB Business Climate -13.4 -14.7

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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