Market Commentary – 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 Reports for Friday, January 13, 2012
1. Market Commentary
View the Holiday Trading Schedule Here
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 | 1307.67 | 2414.33 | 12543 | 785.53 |
| Resistance Level 2 | 1300.08 | 2397.67 | 12482 | 778.27 |
| Resistance Level 1 | 1296.17 | 2388.33 | 12448 | 773.13 |
| Pivot Point | 1288.58 | 2371.67 | 12387 | 765.87 |
| Support Level 1 | 1284.67 | 2362.33 | 12353 | 760.73 |
| Support Level 2 | 1277.08 | 2345.67 | 12292 | 753.47 |
| Support Level 3 | 1273.17 | 2336.33 | 12258 | 748.33 |
3. Support & Resistance Levels for Gold, Euro, Crude Oil, and U.S. T-Bonds
| Contract | Feb. Gold | Dec. Euro | Jan. Crude Oil | March. Bonds |
| Resistance Level 3 | 1676.0 | 1.3029 | 106.34 | 144 30/32 |
| Resistance Level 2 | 1669.4 | 1.2939 | 104.66 | 144 19/32 |
| Resistance Level 1 | 1660.1 | 1.2883 | 101.86 | 144 4/32 |
| Pivot Point | 1653.5 | 1.2793 | 100.18 | 143 25/32 |
| Support Level 1 | 1644.2 | 1.2737 | 97.38 | 143 10/32 |
| Support Level 2 | 1637.6 | 1.2647 | 95.70 | 142 31/32 |
| Support Level 3 | 1628.3 | 1.2591 | 92.90 | 142 16/32 |
4. Support & Resistance Levels for Corn, Wheat, Beans and Silver
| Contract | March Corn | March Wheat | Jan. Beans | March. Silver |
| Resistance Level 3 | 616.5 | 618.8 | 1232.00 | 3144.5 |
| Resistance Level 2 | 615.5 | 614.2 | 1209.50 | 3106.0 |
| Resistance Level 1 | 613.5 | 609.6 | 1196.00 | 3064.0 |
| Pivot Point | 612.5 | 604.9 | 1173.50 | 3025.5 |
| Support Level 1 | 610.5 | 600.3 | 1160.0 | 2983.5 |
| Support Level 2 | 609.5 | 595.7 | 1137.50 | 2945.0 |
| Support Level 3 | 607.5 | 591.1 | 1124.00 | 2903.0 |
5. Economic Reports
Trade Balance
8:30am
Import Prices
8:30am
Prelim UoM Consumer Sentiment
9:55am
Prelim UoM Inflation Expectations
9:55am
FOMC Member Duke Speaks
11:10am
