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Grain Complex Post & Economic Reports 6.16.2015

Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.

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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 June 16, 2015

Hello Traders,

For 2015 I would like to wish all of you discipline and patience in your trading!

Hello Traders,

Grain Complex Post USDA Report

USDA supply/demand report came out yesterday (June 10th) and I was wondering if the old saying, “Voice from the tomb” would live up to its predictions again…..

If you are not familiar with this one, let me give you an abbreviated version:

An old grain trader was on his deathbed. He calls his family and let them know that the most valuable inheritance is in this strange box. After he passes away, the family rushes to the box wondering if there are gold coins or jewelry…instead, they found an old piece of paper that had some date in there. One of the dates was “buy wheat, July 1st, sell wheat September 10th.” No one knows if the family members made a fortune or lost money following this advice, but it is there to point out some seasonality in the grain complex.

Well, we are getting closer to this date, and I have noticed a bit of a bottom formation, perhaps a start of a leg up or perhaps just short covering in the grain complex. Before the report, my inclination was that we are still range bound, and that both markets and the complex as a whole need to break resistance above (marked on the charts).

Daily charts of both wheat and soybeans future contracts below for your review.

– See more at: http://www.equities.com/editors-desk/investing-strategies/trading/grain-complex-post-usda-report-1#sthash.u7t1bFm6.dpuf

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. 2015 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 2102.00 4496.58 17967 1282.40 96.14
Resistance 2 2091.75 4466.92 17877 1270.40 95.90
Resistance 1 2083.25 4445.83 17789 1262.90 95.49
Pivot 2073.00 4416.17 17699 1250.90 95.25
Support 1 2064.50 4395.08 17611 1243.40 94.84
Support 2 2054.25 4365.42 17521 1231.40 94.60
Support 3 2045.75 4344.33 17433 1223.90 94.19
Contract Aug. Gold July Silver July Crude Oil Sept. Bonds Sept.   Euro
Resistance 3 1211.5 16.69 61.41 153 7/32 1.1441
Resistance 2 1200.9 16.46 60.70 152 16/32 1.1375
Resistance 1 1193.2 16.26 60.16 151 19/32 1.1336
Pivot 1182.6 16.04 59.45 150 28/32 1.1270
Support 1 1174.9 15.84 58.91 149 31/32 1.1231
Support 2 1164.3 15.61 58.20 149 8/32 1.1165
Support 3 1156.6 15.41 57.66 148 11/32 1.1126
Contract July Corn July Wheat July Beans July SoyMeal July Nat Gas
Resistance 3 354.6 490.7 950.17 327.27 3.09
Resistance 2 352.9 490.1 946.08 322.73 3.00
Resistance 1 350.6 489.7 941.92 317.97 2.95
Pivot 348.9 489.1 937.83 313.43 2.86
Support 1 346.6 488.7 933.7 308.7 2.8
Support 2 344.9 488.1 929.58 304.13 2.72
Support 3 342.6 487.7 925.42 299.37 2.67
5. Economic Reports

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

All times are Eastern time Zone (EST)

Date 4:00pm Currency Impact Detail Actual Forecast Previous Graph
TueJun 16  2:00am EUR German Final CPI m/m 0.1% 0.1%
Tentative EUR European Court of Justice Ruling
5:00am EUR German ZEW Economic Sentiment 37.5 41.9
EUR ZEW Economic Sentiment 60.3 61.2
EUR Employment Change q/q 0.1% 0.1%
8:30am USD Building Permits 1.11M 1.14M
USD Housing Starts 1.10M 1.14M

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 judgment in trading.

 

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

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