March Crude Oil Futures | Support and Resistance Levels
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
Jump to a section in this post:
1. Market Commentary
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Support and Resistance Levels – March Corn, March Wheat, Jan Beans, March Silver
5.Economic Report for February 10, 2012
1. Market Commentary
Hello Traders,
With stock index futures being relatively quiet, I am sharing a daily chart of March Crude Oil futures where volatility is still present.
My outlook on the daily chart is that a break above the trend line seen ( 100.34) can trigger more upside potential. On the other hand failure and a break of 98 going down can trigger new lows.
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.
If so, please send me an email with the following information:
1. Are you currently trading futures?
2. Charting software you use?
3. If you use sierra or ATcharts, please let me know the user name so I can enable you
4. Markets you currently trading?
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000
| Contract (Dec. 2011) | SP500 (big & Mini) |
Nasdaq100 (big & Mini) |
Dow Jones (big & Mini) |
Mini Russell |
| Resistance Level 3 | 1363.00 | 2599.00 | 12957 | 843.33 |
| Resistance Level 2 | 1357.05 | 2582.50 | 12918 | 837.27 |
| Resistance Level 1 | 1352.90 | 2571.50 | 12887 | 830.13 |
| Pivot Point | 1346.95 | 2555.00 | 12848 | 824.07 |
| Support Level 1 | 1342.80 | 2544.00 | 12817 | 816.93 |
| Support Level 2 | 1336.85 | 2527.50 | 12778 | 810.87 |
| Support Level 3 | 1332.70 | 2516.50 | 12747 | 803.73 |
3. Support & Resistance Levels for Gold, Euro, Crude Oil, and U.S. T-Bonds
| Contract | April. Gold | March Euro | Feb. Crude Oil | March. Bonds |
| Resistance Level 3 | 1775.6 | 1.3443 | 101.90 | 143 11/32 |
| Resistance Level 2 | 1765.6 | 1.3384 | 101.04 | 142 20/32 |
| Resistance Level 1 | 1748.2 | 1.3334 | 100.38 | 142 4/32 |
| Pivot Point | 1738.2 | 1.3275 | 99.52 | 141 13/32 |
| Support Level 1 | 1720.8 | 1.3225 | 98.86 | 140 29/32 |
| Support Level 2 | 1710.8 | 1.3166 | 98.00 | 140 6/32 |
| Support Level 3 | 1693.4 | 1.3116 | 97.34 | 139 22/32 |
4. Support & Resistance Levels for Corn, Wheat, Beans and Silver
| Contract | March Corn | March Wheat | March Beans | March. Silver |
| Resistance Level 3 | 667.3 | 673.3 | 1266.00 | 3508.3 |
| Resistance Level 2 | 659.7 | 667.7 | 1256.50 | 3476.7 |
| Resistance Level 1 | 648.3 | 656.8 | 1242.00 | 3430.8 |
| Pivot Point | 640.7 | 651.2 | 1232.50 | 3399.2 |
| Support Level 1 | 629.3 | 640.3 | 1218.0 | 3353.3 |
| Support Level 2 | 621.7 | 634.7 | 1208.50 | 3321.7 |
| Support Level 3 | 610.3 | 623.8 | 1194.00 | 3275.8 |
5. Economic Reports
French Industrial Production
2:45am
Italian Industrial Production
4:00am
Trade Balance
8:30am
Prelim UoM Consumer Sentiment
9:55am
Inflation Expectations
9:55am
Fed Chairman Bernanke Speaks
12:30pm
FOMC Member Pianalto Speaks
12:50pm
Federal Budget Balance
2:00pm
