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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 Thursday May 16, 2013

Hello Traders,

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


We saw good volume across different markets today including better volume in the SP 500 than we saw in a while.
The most meaningful move in my opinion was in silver and gold and a daily chart of the gold market is below for your review:

gold futures daily chart



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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 1680.25 3032.67 15436 1001.73 84.75
Resistance 2 1670.00 3018.58 15357 996.37 84.48
Resistance 1 1663.25 3010.67 15302 991.73 84.21
Pivot 1653.00 2996.58 15223 986.37 83.94
Support 1 1646.25 2988.67 15168 981.73 83.67
Support 2 1636.00 2974.58 15089 976.37 83.40
Support 3 1629.25 2966.67 15034 971.73 83.13
Contract June Gold July Silver June Crude Oil June Bonds  June Euro
Resistance 3 1461.2 2414.3 97.44 145 24/32 1.3036
Resistance 2 1445.3 2379.7 95.94 145  6/32 1.2990
Resistance 1 1418.2 2313.8 95.14 144 21/32 1.2936
Pivot 1402.3 2279.2 93.64 144  3/32 1.2890
Support 1 1375.2 2213.3 92.84 143 18/32 1.2836
Support 2 1359.3 2178.7 91.34 143 1.2790
Support 3 1332.2 2112.8 90.54 142 15/32 1.2736
Contract July Corn July Wheat July Beans July SoyMeal July bean Oil
Resistance 3 672.7 712.8 1437.17 421.53 50.55
Resistance 2 666.1 708.9 1428.58 418.17 50.25
Resistance 1 658.4 701.3 1420.67 414.33 49.80
Pivot 651.8 697.4 1412.08 410.97 49.50
Support 1 644.2 689.8 1404.2 407.1 49.1
Support 2 637.6 685.9 1395.58 403.77 48.75
Support 3 629.9 678.3 1387.67 399.93 48.30
For complete contract specifications for the futures markets listed above click here!

5. Economic Reports


All times are Eastern time Zone (EST)

Date 3:50pm Currency Impact Detail Actual Forecast Previous Graph
ThuMay 16  2:45am EUR French Prelim Non-Farm Payrolls q/q -0.3% -0.3%
4:00am EUR Italian Trade Balance 1.72B 1.09B
5:00am EUR CPI y/y 1.2% 1.2%
EUR Core CPI y/y 1.0% 1.5%
EUR Trade Balance 11.8B 12.0B
7:45am USD FOMC Member Rosengren Speaks
8:30am USD Building Permits 0.94M 0.91M
USD Core CPI m/m 0.2% 0.1%
USD Unemployment Claims 332K 323K
USD CPI m/m -0.3% -0.2%
USD Housing Starts 0.98M 1.04M
10:00am USD Philly Fed Manufacturing Index 2.5 1.3
10:30am USD Natural Gas Storage 96B 88B
12:30pm USD FOMC Member Raskin 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

Tags: > Posted in: Future Trading News   | Futures Trading   | Metal Futures  

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