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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.

Jump to a section in this post:

1. Market Commentary
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Economic Reports for Friday August 10, 2012


Hello Traders,

Below is a screen shot of the Mini S&P 500 chart I shared during today’s session with clients and prospects during our live trading signals session.

Would you like to have access to my DIAMOND and TOPAZ ALGOs as shown above  and be able to apply for any market and any time frame on your own PC ?   You can now have a two weeks free trial where I enable the ALGO along with few studies for your own sierra/ ATcharts.

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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.

2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index

Contract Sept. 2012 SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell Dollar Index
Resistance 3 1411.13 2742.33 13227 813.07 83.55
Resistance 2 1406.97 2732.67 13188 808.23 83.21
Resistance 1 1403.73 2725.33 13157 804.87 82.95
Pivot 1399.57 2715.67 13118 800.03 82.61
Support 1 1396.33 2708.33 13087 796.67 82.36
Support 2 1392.17 2698.67 13048 791.83 82.02
Support 3 1388.93 2691.33 13017 788.47 81.76

3. Support & Resistance Levels for Gold, Euro, Crude Oil, and U.S. T-Bonds

Contract Dec Gold Sept. Euro Sept. Crude Oil Sept. Bonds
Resistance 3 1632.3 1.2495 95.33 149 22/32
Resistance 2 1626.6 1.2444 94.77 149 2/32
Resistance 1 1623.5 1.2373 94.19 148 19/32
Pivot 1617.8 1.2322 93.63 147 31/32
Support 1 1614.7 1.2251 93.05 147 16/32
Support 2 1609.0 1.2200 92.49 146 28/32
Support 3 1605.9 1.2129 91.91 146 13/32

4. Support & Resistance Levels for Corn, Wheat, Beans and Silver

Contract Dec. Corn Sept. Wheat Nov. Beans Sept. Silver
Resistance 3 836.1 922.8 1670.17 2858.5
Resistance 2 832.9 919.7 1651.08 2838.5
Resistance 1 828.3 916.3 1641.17 2823.5
Pivot 825.2 913.2 1622.08 2803.5
Support 1 820.6 909.8 1612.2 2788.5
Support 2 817.4 906.7 1593.08 2768.5
Support 3 812.8 903.3 1583.17 2753.5

5. Economic Reports


All times are Eastern time Zone (EST)

Date 4:02pm Currency Impact Detail Actual Forecast Previous Graph

Aug 10
 2:00am EUR
German Final CPI m/m
0.4% 0.4%
2:45am EUR
French Industrial Production m/m
0.4% -1.9%
2:45am EUR
French Gov Budget Balance
8:30am USD
Import Prices m/m
0.1% -2.7%
2:00pm USD
Federal Budget Balance
-103.0B -59.7B

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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