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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 June 7, 2013

Hello Traders,

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


Big moves in many markets. High volatility. Once again, I am not a fan of entering trades without stops….if you are a day trader and got in the wrong way today on the currencies for example, with out a stop….by the time you were finally able to collect your emotions and thoughts you may have been pretty deep in the hole. So yes, stops will take you out with a loss and sometimes you will get stopped out just to see the market go back your way, but for me personally stops are what prevent traders from “blowing up” and making a small bad day into a terrible day. Expect more volatility tomorrow as we have monthly Non farm Payroll report early in the morning.


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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 June 2013  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell Dollar Index
Resistance 3 1660.25 3008.67 15326 1005.30 84.08
Resistance 2 1642.25 2981.33 15187 992.80 83.39
Resistance 1 1632.50 2965.17 15112 986.40 82.46
Pivot 1614.50 2937.83 14973 973.90 81.76
Support 1 1604.75 2921.67 14898 967.50 80.83
Support 2 1586.75 2894.33 14759 955.00 80.14
Support 3 1577.00 2878.17 14684 948.60 79.21
Contract August Gold July Silver July Crude Oil Sept. Bonds  June Euro
Resistance 3 1459.0 2346.3 97.07 144 18/32 1.3575
Resistance 2 1441.1 2315.2 96.19 143 17/32 1.3441
Resistance 1 1426.9 2287.8 95.44 142 11/32 1.3343
Pivot 1409.0 2256.7 94.56 141 10/32 1.3209
Support 1 1394.8 2229.3 93.81 140  4/32 1.3111
Support 2 1376.9 2198.2 92.93 139  3/32 1.2977
Support 3 1362.7 2170.8 92.18 137 29/32 1.2879
Contract July Corn July Wheat July Beans July SoyMeal July bean Oil
Resistance 3 675.0 703.3 1333.17 462.20 49.23
Resistance 2 669.8 701.9 1320.58 459.60 48.84
Resistance 1 666.5 699.8 1313.17 456.80 48.50
Pivot 661.3 698.4 1300.58 454.20 48.11
Support 1 658.0 696.3 1293.2 451.4 47.8
Support 2 652.8 694.9 1280.58 448.80 47.38
Support 3 649.5 692.8 1273.17 446.00 47.04
For complete contract specifications for the futures markets listed above click here!

5. Economic Reports


All times are Eastern time Zone (EST)

Date 4:04pm Currency Impact Detail Actual Forecast Previous Graph
FriJun 7  2:00am EUR German Trade Balance 16.5B 17.6B
2:45am EUR French Gov Budget Balance -31.0B
EUR French Trade Balance -4.4B -4.7B
6:00am EUR German Industrial Production m/m 0.0% 1.2%
8:30am USD Non-Farm Employment Change 167K 165K
USD Unemployment Rate 7.5% 7.5%
USD Average Hourly Earnings m/m 0.2% 0.2%
3:00pm USD Consumer Credit m/m 13.4B 8.0B

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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