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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 October 18, 2013

Hello Traders,

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

As most of you know, for short term trading I like to use volume charts, range bar charts and Renko charts.

I have shared some set ups in previous posts and will continue to do so.

For example, I like to use 18 ticks range bar charts for crude oil and 6 ticks range bar charts for mini SP.

Here is a little more on Range bar charts, courtesy of CQG.com which is my main charting/execution software followed by sierra charts:

Range Bar (RB)

A Range Bar chart is a non-time-based chart constructed of bars that indicate price movement as a way to help expose trends and volatility. A bar is created each time a trade occurs outside of the previous bar’s stated price range, which you set in preferences.


Mini S&P 2 Tick Range Bar Chart

Mini S&P 2 Tick Range Bar 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.

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Futures Trading Levels

Contract Dec. 2013  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell Dollar Index
Resistance 3 1757.17 3345.75 15538 1121.10 81.31
Resistance 2 1742.83 3320.25 15426 1110.30 80.98
Resistance 1 1734.92 3306.25 15362 1104.40 80.34
Pivot 1720.58 3280.75 15250 1093.60 80.01
Support 1 1712.67 3266.75 15186 1087.70 79.37
Support 2 1698.33 3241.25 15074 1076.90 79.04
Support 3 1690.42 3227.25 15010 1071.00 78.40
Contract Dec. Gold Dec. Silver Nov. Crude Oil Dec. Bonds  Dec. Euro
Resistance 3 1388.9 2342.7 104.27 135 28/32 1.3904
Resistance 2 1356.6 2281.3 103.30 135  2/32 1.3795
Resistance 1 1338.4 2232.7 101.98 134 18/32 1.3737
Pivot 1306.1 2171.3 101.01 133 24/32 1.3628
Support 1 1287.9 2122.7 99.69 133  8/32 1.3570
Support 2 1255.6 2061.3 98.72 132 14/32 1.3461
Support 3 1237.4 2012.7 97.40 131 30/32 1.3403
Contract Dec Corn Dec. Wheat Nov.Beans Dec. SoyMeal Dec. bean Oil
Resistance 3 450.2 686.8 1310.17 429.13 41.86
Resistance 2 448.3 686.7 1302.08 421.47 41.71
Resistance 1 445.7 686.3 1297.67 417.23 41.41
Pivot 443.8 686.2 1289.58 409.57 41.26
Support 1 441.2 685.8 1285.2 405.3 41.0
Support 2 439.3 685.7 1277.08 397.67 40.81
Support 3 436.7 685.3 1272.67 393.43 40.51
For complete contract specifications for the futures markets listed above click here!

5. Economic Reports


All times are Eastern time Zone (EST)


Date 4:00pm Currency Impact Detail Actual Forecast Previous Graph
FriOct 18  12:30pm USD FOMC Member Tarullo Speaks
2:00pm USD FOMC Member Evans Speaks
3:40pm USD FOMC Member Dudley Speaks
4:30pm USD FOMC Member Stein 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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