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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 Tuesday May 14, 2013

Hello Traders,

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

The last 10 days or so we have seen most sessions to behave like today: Narrow range, low volume, “manipulated market feeling”. Characteristics I personally DEFINITELY don’t like for day trading. But the bottom line the market is what the market is and as traders we need to understand the type of market we are in and adjust as quickly as possible.

By the way, for this type of marker behavior, I find using market profile and trying to buy / sell at the 15% tail curve of the previous session to work well but as we know in trading, things change very quickly…

 

 

 

 

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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 1647.58 3019.33 15137 982.93 83.79
Resistance 2 1640.42 3003.42 15104 979.07 83.62
Resistance 1 1635.83 2992.33 15079 975.73 83.49
Pivot 1628.67 2976.42 15046 971.87 83.32
Support 1 1624.08 2965.33 15021 968.53 83.18
Support 2 1616.92 2949.42 14988 964.67 83.01
Support 3 1612.33 2938.33 14963 961.33 82.88
Contract June Gold July Silver June Crude Oil June Bonds June Euro
Resistance 3 1467.4 2417.0 97.08 146 3/32 1.3062
Resistance 2 1457.8 2400.5 96.44 145 20/32 1.3032
Resistance 1 1443.8 2380.0 95.74 145 5/32 1.3003
Pivot 1434.2 2363.5 95.10 144 22/32 1.2973
Support 1 1420.2 2343.0 94.40 144 7/32 1.2944
Support 2 1410.6 2326.5 93.76 143 24/32 1.2914
Support 3 1396.6 2306.0 93.06 143 9/32 1.2885
Contract July Corn July Wheat July Beans July SoyMeal July bean Oil
Resistance 3 684.2 726.8 1448.17 430.13 50.65
Resistance 2 671.8 721.9 1435.08 423.17 50.25
Resistance 1 663.7 715.8 1427.17 419.13 49.93
Pivot 651.3 710.9 1414.08 412.17 49.53
Support 1 643.2 704.8 1406.2 408.1 49.2
Support 2 630.8 699.9 1393.08 401.17 48.81
Support 3 622.7 693.8 1385.17 397.13 48.49
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 3:41pm Currency Impact Detail Actual Forecast Previous Graph
TueMay 14  2:00am EUR German Final CPI m/m -0.5% -0.5%
EUR German WPI m/m -0.3% -0.2%
5:00am EUR German ZEW Economic Sentiment 39.5 36.3
EUR Industrial Production m/m 0.6% 0.4%
EUR ZEW Economic Sentiment 27.3 24.9
All Day EUR ECOFIN Meetings
7:30am USD NFIB Small Business Index 89.9 89.5
8:30am USD Import Prices m/m -0.5% -0.5%

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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