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Gold Chart for Review 7.06.2016

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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 Wednesday July 6, 2016

Hello Traders,

We got both ECB Draghi speaking tomorrow morning as well as FOMC minutes later in the day. Could turn out to be a volatile trading day.

There are a few factors you can control as a day trader:

How many contracts you trade per ticket?

How many markets you trade at any given time?

What is your ( hopefully ) self imposed risk per trade? per day?

These factors should be adjusted as your trading capital change, as volatility increases/ decreases and according to your performance.

Gold chart for your review below:

Gold Chart

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.

If you like Our Futures Trading Daily Support and Resistance Levels, Please share!

Futures Trading Levels 

Contract Sept. 2016  SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 2133.25 4519.33 18131 1177.30 97.59
Resistance 2 2119.00 4485.42 18027 1166.20 96.97
Resistance 1 2101.00 4445.33 17896 1151.10 96.63
Pivot 2086.75 4411.42 17792 1140.00 96.00
Support 1 2068.75 4371.33 17661 1124.90 95.66
Support 2 2054.50 4337.42 17557 1113.80 95.04
Support 3 2036.50 4297.33 17426 1098.70 94.70
Contract Aug. Gold Sept. Silver Aug. Crude Oil Sept. Bonds Sept.   Euro
Resistance 3 1387.8 22.58 51.65 177 21/32 1.1304
Resistance 2 1374.0 21.90 50.50 177 1/32 1.1260
Resistance 1 1366.0 20.96 48.63 176 14/32 1.1180
Pivot 1352.2 20.29 47.48 175 26/32 1.1136
Support 1 1344.2 19.35 45.61 175 7/32 1.1055
Support 2 1330.4 18.67 44.46 174 19/32 1.1011
Support 3 1322.4 17.73 42.59 174 1.0931
Contract Dec. Corn Sept. Wheat Nov. Beans Dec. SoyMeal Aug. Nat Gas
Resistance 3 379.7 458.8 1153.50 400.83 3.08
Resistance 2 371.3 446.7 1136.75 396.27 3.01
Resistance 1 364.7 440.1 1107.00 387.13 2.89
Pivot 356.3 427.9 1090.25 382.57 2.82
Support 1 349.7 421.3 1060.5 373.4 2.7
Support 2 341.3 409.2 1043.75 368.87 2.63
Support 3 334.7 402.6 1014.00 359.73 2.50

source:http://www.forexfactory.com/calendar.php

All times are Eastern time Zone (EST)

Date 3:42pm Currency Impact Detail Actual Forecast Previous Graph
WedJul 6 2:00am EUR
German Factory Orders m/m
1.0% -2.0%
4:00am EUR
ECB President Draghi Speaks
4:10am EUR
Retail PMI
50.6
4:30am GBP
Housing Equity Withdrawal q/q
-10.1B -9.5B
8:30am USD
Trade Balance
-40.0B -37.4B
9:00am USD
FOMC Member Tarullo Speaks
9:45am USD
Final Services PMI
51.5 51.3
10:00am USD
ISM Non-Manufacturing PMI
53.3 52.9
2:00pm USD
FOMC Meeting Minutes

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 here in 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 judgement in trading.

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

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