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Heikin-Ashi Gold Chart 6.01.2016

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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 June 01, 2016

Hello Traders,

For 2016 I would like to wish all of you discipline and patience in your trading!

Voted #1 futures trading blog! 

Sell in May and go away…did not happen….at least so far. Stocks finished the month strong and markets overall were somewhat quiet today, considering this was the last trading day of the month. Perhaps tired from the long weekend we had here in the US.

Won’t stay quite for long. We have EU rate decision early Thursday and monthly unemployment here in the US on Friday so I do expect volatility and volume to pick up.

I wish all of you a great trading month in June!
Monthly chart of gold futures for your review below:

Heikin-Ashi 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.

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Futures Trading Levels 

Contract June 2016 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 2121.25 4565.92 18086 1169.30 96.45
Resistance 2 2112.50 4547.08 17997 1164.20 96.17
Resistance 1 2103.50 4535.17 17885 1158.60 96.01
Pivot 2094.75 4516.33 17796 1153.50 95.73
Support 1 2085.75 4504.42 17684 1147.90 95.58
Support 2 2077.00 4485.58 17595 1142.80 95.30
Support 3 2068.00 4473.67 17483 1137.20 95.14
Contract Aug. Gold July Silver July Crude Oil June Bonds June   Euro
Resistance 3 1243.9 16.51 51.04 165 10/32 1.1249
Resistance 2 1232.2 16.38 50.57 164 11/32 1.1213
Resistance 1 1224.8 16.18 49.75 163 22/32 1.1173
Pivot 1213.1 16.05 49.28 162 23/32 1.1138
Support 1 1205.7 15.85 48.46 162 2/32 1.1098
Support 2 1194.0 15.72 47.99 161 3/32 1.1062
Support 3 1186.6 15.52 47.17 160 14/32 1.1022
Contract July Corn July Wheat July Beans July SoyMeal July Nat Gas
Resistance 3 418.7 488.3 1109.67 417.80 2.49
Resistance 2 415.6 483.2 1102.83 412.40 2.40
Resistance 1 410.2 473.8 1090.67 404.50 2.34
Pivot 407.1 468.7 1083.83 399.10 2.25
Support 1 401.7 459.3 1071.7 391.2 2.2
Support 2 398.6 454.2 1064.83 385.80 2.09
Support 3 393.2 444.8 1052.67 377.90 2.04

 

 

Economic Reports

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

All times are Eastern time Zone (EST)

Date 4:26pm Currency Impact Detail Actual Forecast Previous Graph
WedJun 1 2:00am GBP
Nationwide HPI m/m
0.3% 0.2%
3:15am EUR
Spanish Manufacturing PMI
52.6 53.5
3:45am EUR
Italian Manufacturing PMI
53.5 53.9
3:50am EUR
French Final Manufacturing PMI
48.3 48.3
3:55am EUR
German Final Manufacturing PMI
52.5 52.4
4:00am EUR
Final Manufacturing PMI
51.5 51.5
4:30am GBP
Manufacturing PMI
49.6 49.2
GBP
Net Lending to Individuals m/m
5.3B 9.3B
GBP
M4 Money Supply m/m
0.2% -0.4%
GBP
Mortgage Approvals
68K 71K
9:45am USD
Final Manufacturing PMI
50.5 50.5
10:00am USD
ISM Manufacturing PMI
50.5 50.8
USD
Construction Spending m/m
0.5% 0.3%
USD
ISM Manufacturing Prices
58.0 59.0
All Day USD
Total Vehicle Sales
17.2M 17.4M
2:00pm USD
Beige Book

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  

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