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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 Thursday March 20, 2014

Hello Traders,

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

As expected and forewarned in this blog….very quiet, tight trading until the announcement and then HIGH volatility. I personally, do not like to trade this way as I feel the risk is greater than reward, however there are certain type of traders who can’t wait for the big reports to trade….

Here is what the daily chart of the Mini Russell 2000 looks like after today. June is front month now for stock indices, currencies and financials.

TFE - Russell 2000 Index Mini, Equalized Active Daily Continuation

TFE – Russell 2000 Index Mini, Equalized Active Daily Continuation


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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 1892.83 3756.75 16529 1220.10 81.19
Resistance 2 1880.17 3731.00 16412 1211.00 80.72
Resistance 1 1867.33 3704.00 16284 1201.20 80.43
Pivot 1854.67 3678.25 16167 1192.10 79.96
Support 1 1841.83 3651.25 16039 1182.30 79.67
Support 2 1829.17 3625.50 15922 1173.20 79.20
Support 3 1816.33 3598.50 15794 1163.40 78.91
Contract Apr. Gold May Silver May Crude Oil June Bonds  Mar. Euro
Resistance 3 1382.9 2132.8 100.39 134  7/32 1.4030
Resistance 2 1371.6 2114.7 99.83 133 24/32 1.3981
Resistance 1 1350.5 2086.8 99.46 132 28/32 1.3905
Pivot 1339.2 2068.7 98.90 132 13/32 1.3856
Support 1 1318.1 2040.8 98.53 131 17/32 1.3780
Support 2 1306.8 2022.7 97.97 131  2/32 1.3731
Support 3 1285.7 1994.8 97.60 130  6/32 1.3655
Contract May Corn May Wheat May Beans May SoyMeal May bean Oil
Resistance 3 499.2 716.8 1445.50 474.07 43.05
Resistance 2 495.1 716.3 1439.75 468.73 42.83
Resistance 1 491.4 716.0 1435.50 465.37 42.46
Pivot 487.3 715.5 1429.75 460.03 42.24
Support 1 483.7 715.3 1425.5 456.7 41.9
Support 2 479.6 714.8 1419.75 451.33 41.65
Support 3 475.9 714.5 1415.50 447.97 41.28

 * The levels for stock index below are still calculated based on March contract because of volume. To get the levels for June contracts:

subtract 7 points on the SP, 6 points on the mini NASDAQ, 3 points on the mini Russell and 70 points on the mini Dow for each level.

For complete contract specifications for the futures markets listed above click here!

5. Economic Reports


All times are Eastern time Zone (EST)

Date 3:53pm Currency Impact Detail Actual Forecast Previous Graph
ThuMar 20  3:00am EUR German PPI m/m 0.2% -0.1%
Day 1 EUR EU Economic Summit
8:30am USD Unemployment Claims 327K 315K
10:00am USD Existing Home Sales 4.65M 4.62M
USD Philly Fed Manufacturing Index 4.2 -6.3
USD CB Leading Index m/m 0.3% 0.3%
10:30am USD Natural Gas Storage -195B
4:00pm USD Bank Stress Test Results

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

Tags: Posted in: Commodity Trading   | Future Trading News   | Futures Trading  

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