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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.

Cannon Trading / E-Futures.com

Lower volume to resume trading after the fourth of July long weekend.

Summer season sometimes have different characteristics than other times of the year. Pay attention to reports and trading volume.

Daily chart of the mini Russell for your review below. I think if market can take out 833.00 we may see a deeper correction, otherwise the path of less resistance will continue to be to the upside.

Daily Mini Russell Chart from July 5, 2011

Daily Mini Russell Chart from July 5, 2011

GOOD TRADING!

TRADING LEVELS!

Commodity Futures trading levels for July 6th, 2011

Economic Reports Wednesday July 6th, 2011

Challenger Job Cuts y/y
7:30am USD

ISM Non-Manufacturing PMI
10:00am ALL

Economics Report Source: http://www.forexfactory.com/calendar.php

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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