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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.

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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 May 20, 2014

Hello Traders,

For 2014 I would like to wish all of you discipline and patience in your trading!


We started the week with very low volume, low energy type of trading across the markets.


Not my favorite conditions but that is part of trading….YOU need to adjust to what the market is doing, how the market is trading/ behaving since the opposite will NOT happen….mini SP volume looks to be under 1 million contracts today, which is well below the average volume.  If anything, days like today are sometimes followed by higher volatility/ higher volume days, so make sure to see what type of trading range/ volatility the overnight session had and how the first 30 minutes of trading tomorrow look like to see if it can help you asses the type of trading day ahead of you.




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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.

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Futures Trading Levels

Contract June 2014  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell Dollar Index
Resistance 3 1905.83 3686.17 16636 1142.17 80.31
Resistance 2 1894.42 3651.83 16567 1128.73 80.21
Resistance 1 1888.58 3634.17 16526 1120.47 80.14
Pivot 1877.17 3599.83 16457 1107.03 80.04
Support 1 1871.33 3582.17 16416 1098.77 79.96
Support 2 1859.92 3547.83 16347 1085.33 79.86
Support 3 1854.08 3530.17 16306 1077.07 79.79
Contract June Gold July Silver July Crude Oil June Bonds  June Euro
Resistance 3 1319.0 1997.5 103.54 138 10/32 1.3770
Resistance 2 1312.4 1983.0 103.02 138  2/32 1.3752
Resistance 1 1302.8 1960.0 102.57 137 14/32 1.3730
Pivot 1296.2 1945.5 102.05 137  6/32 1.3712
Support 1 1286.6 1922.5 101.60 136 18/32 1.3690
Support 2 1280.0 1908.0 101.08 136 10/32 1.3672
Support 3 1270.4 1885.0 100.63 135 22/32 1.3650
Contract July Corn July Wheat July Beans July SoyMeal July bean Oil
Resistance 3 485.8 688.8 1531.33 515.30 40.90
Resistance 2 483.9 682.2 1511.42 505.10 40.77
Resistance 1 480.6 678.3 1498.33 497.80 40.60
Pivot 478.7 671.7 1478.42 487.60 40.47
Support 1 475.3 667.8 1465.3 480.3 40.3
Support 2 473.4 661.2 1445.42 470.10 40.17
Support 3 470.1 657.3 1432.33 462.80 40.00
5. Economic Reports


All times are Eastern time Zone (EST)

Date 3:47pm Currency Impact Detail Actual Forecast Previous Graph
TueMay 20  2:00am EUR German PPI m/m 0.0% -0.3%
12:30pm USD FOMC Member Plosser Speaks
1:00pm USD FOMC Member Dudley Speaks

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.

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