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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 January 28, 2014

Hello Traders,

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

Last Thursday I wrote:

PS: I think if we do break 1813, we can see more powerful leg down. Just my opinion…..

I happened to be right this time and below you will see updated outlook. Looks like next levels of support come at 1754 and 1730.

On the way up 1792 is sticking up as a very important level.

Lets not forget we have FOMC coming out Wednesday which is a market mover and in between we are in the midst of earnings season….

Updated chart for your review below:


EP - E-Mini SAP 500, Equalized Active Daily Continuation

EP – E-Mini SAP 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 1816.67 3614.17 16050 1175.57 80.95
Resistance 2 1804.33 3579.58 15968 1161.93 80.80
Resistance 1 1791.67 3544.67 15885 1144.77 80.69
Pivot 1779.33 3510.08 15803 1131.13 80.54
Support 1 1766.67 3475.17 15720 1113.97 80.43
Support 2 1754.33 3440.58 15638 1100.33 80.28
Support 3 1741.67 3405.67 15555 1083.17 80.17
Contract Feb. Gold Mar. Silver Feb. Crude Oil Mar. Bonds  Mar. Euro
Resistance 3 1300.7 2049.3 98.89 133 28/32 1.3775
Resistance 2 1290.3 2029.2 98.03 133 18/32 1.3746
Resistance 1 1272.8 1995.3 96.92 132 31/32 1.3710
Pivot 1262.4 1975.2 96.06 132 21/32 1.3681
Support 1 1244.9 1941.3 94.95 132  2/32 1.3645
Support 2 1234.5 1921.2 94.09 131 24/32 1.3616
Support 3 1217.0 1887.3 92.98 131  5/32 1.3580
Contract March Corn March Wheat March Beans March SoyMeal March bean Oil
Resistance 3 438.3 576.8 1302.83 441.60 37.64
Resistance 2 435.4 574.2 1296.92 437.10 37.50
Resistance 1 433.6 568.8 1292.33 434.00 37.28
Pivot 430.7 566.2 1286.42 429.50 37.14
Support 1 428.8 560.8 1281.8 426.4 36.9
Support 2 425.9 558.2 1275.92 421.90 36.78
Support 3 424.1 552.8 1271.33 418.80 36.56
For complete contract specifications for the futures markets listed above click here!

5. Economic Reports


All times are Eastern time Zone (EST)

Date 4:11pm Currency Impact Detail Actual Forecast Previous Graph
TueJan 28  2:00am EUR German Import Prices m/m 0.3% 0.1%
All Day EUR ECOFIN Meetings
8:30am USD Core Durable Goods Orders m/m 0.7% 1.2%
USD Durable Goods Orders m/m 1.9% 3.4%
9:00am USD S&P/CS Composite-20 HPI y/y 13.7% 13.6%
10:00am USD CB Consumer Confidence 78.3 78.1
USD Richmond Manufacturing Index 13 13
9:00pm USD President Obama 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 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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