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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 December 19, 2013

Hello Traders,

For 2013 I would like to wish all of you discipline and patience in your trading! 

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Also keep in mind that March is now the front month for stock indices, financials, currencies and grains!
What a wild ride today following the FOMC !!

Two charts for your viewing pleasure….one is an 8 tick range bar of the mini SP. Note it took the market 4 hours to complete the same range ( volume as well) it did in about 2 minutes right after FOMC ( if you read my blog yesterday, you hopefully listened and stayed out of the market during the minutes before and right after as I feel it is a pure gamble) –  so first chart just to demonstrate the volatility after the report.


ESh4 2.00 mg #2 E-Mini SP

ESh4 2.00 mg #2 E-Mini SP

Second chart is a daily chart of the March mini SP along with possible levels both above and below.



EP - E Mini S&P 500, Equalized Active Daily Continuation

EP – E Mini S&P 500, 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 March 2014  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell Dollar Index
Resistance 3 1867.08 3633.25 16625 1165.53 82.26
Resistance 2 1836.92 3571.25 16376 1148.37 81.49
Resistance 1 1821.08 3539.25 16246 1139.63 81.04
Pivot 1790.92 3477.25 15997 1122.47 80.27
Support 1 1775.08 3445.25 15867 1113.73 79.83
Support 2 1744.92 3383.25 15618 1096.57 79.06
Support 3 1729.08 3351.25 15488 1087.83 78.61
Contract Feb. Gold Mar. Silver Jan. Crude Oil Mar. Bonds  Mar. Euro
Resistance 3 1265.9 2106.2 99.37 132  3/32 1.3974
Resistance 2 1255.0 2066.3 98.84 131  6/32 1.3910
Resistance 1 1237.1 2022.2 98.34 130  8/32 1.3801
Pivot 1226.2 1982.3 97.81 129 11/32 1.3737
Support 1 1208.3 1938.2 97.31 128 13/32 1.3628
Support 2 1197.4 1898.3 96.78 127 16/32 1.3564
Support 3 1179.5 1854.2 96.28 126 18/32 1.3455
Contract March Corn March Wheat Jan .Beans March SoyMeal March bean Oil
Resistance 3 434.9 617.5 1363.50 464.00 39.75
Resistance 2 432.3 616.3 1355.50 459.00 39.60
Resistance 1 428.7 614.5 1339.75 450.10 39.33
Pivot 426.1 613.3 1331.75 445.10 39.18
Support 1 422.4 611.5 1316.0 436.2 38.9
Support 2 419.8 610.3 1308.00 431.20 38.76
Support 3 416.2 608.5 1292.25 422.30 38.49
For complete contract specifications for the futures markets listed above click here!

5. Economic Reports


All times are Eastern time Zone (EST)


Date 3:54pm Currency Impact Detail Actual Forecast Previous Graph
ThuDec 19 4:00am EUR Current Account 21.8B 14.2B 14.9B
Day 1 EUR EU Economic Summit
4:42am EUR Spanish 10-y Bond Auction 4.10|3.6 4.16|2.6
8:30am USD Unemployment Claims 379K 336K 369K
10:00am USD Existing Home Sales 4.90M 5.04M 5.12M
USD Philly Fed Manufacturing Index 7.0 10.3 6.5
USD CB Leading Index m/m 0.8% 0.7% 0.1%
10:30am USD Natural Gas Storage -285B -260B -81B

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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