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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.

Hello Traders,

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

Hello Traders,

Due tomorrow at 8:30AM Eastern are Monthly Unemployment numbers (AKA non farm payroll).  It is important for one to keep a trading journal for these type of reports and events to reflect and remind yourself on how the future markets behave during different situations, events and reports. The point of the story is that keeping a trading journal has MANY ADVANTAGES…. and I highly recommend it.

I keep notes on the following:

  • Different methods I test
  • Market behavior during different economic reports
  • Things I did well, mental state of mind
  • Mistakes I have made, the reasons I did and how I can try to avoid these mistakes
  • Different indicators, chart settings, ideas I read about
  • Different codes I created for my charts
  • Much more…

Many times the journal will help me put closure on a bad day but more so it helps keep track of work I have done so I don’t have to do it again.

Try it. It is not easy, especially after bad days….it takes time, energy and consistency – just like trading. I keep mine on a word doc so I can easily access it (plus my hand writing is terrible). Hope this tip helps and wishing you good trading!



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. Past performance is not indicative to future results.

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Futures Trading Levels

Contract Dec. 2014 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 2094.25 4365.67 18070 1195.37 90.12
Resistance 2 2085.75 4347.08 17999 1188.43 89.66
Resistance 1 2078.25 4330.42 17942 1181.17 89.15
Pivot 2069.75 4311.83 17871 1174.23 88.69
Support 1 2062.25 4295.17 17814 1166.97 88.18
Support 2 2053.75 4276.58 17743 1160.03 87.72
Support 3 2046.25 4259.92 17686 1152.77 87.21
Contract Feb. Gold Mar.Silver Jan. Crude Oil Mar. Bonds Dec. Euro
Resistance 3 1225.2 16.95 70.06 143 22/32 1.2651
Resistance 2 1219.3 16.82 69.14 142 31/32 1.2555
Resistance 1 1212.8 16.65 67.93 142 18/32 1.2470
Pivot 1206.9 16.51 67.01 141 27/32 1.2374
Support 1 1200.4 16.34 65.80 141 14/32 1.2289
Support 2 1194.5 16.21 64.88 140 23/32 1.2193
Support 3 1188.0 16.04 63.67 140 10/32 1.2108
Contract March Corn March Wheat Jan. Beans Jan. SoyMeal Jan. bean Oil
Resistance 3 399.6 589.8 1034.33 373.03 32.09
Resistance 2 394.9 589.8 1024.67 367.47 31.95
Resistance 1 392.3 589.8 1017.58 362.63 31.82
Pivot 387.7 589.8 1007.92 357.07 31.68
Support 1 385.1 589.8 1000.8 352.2 31.6
Support 2 380.4 589.8 991.17 346.67 31.41
Support 3 377.8 589.8 984.08 341.83 31.28
Economic Reports

source: http://www.forexfactory.com/calendar.php

All times are Eastern time Zone (EST)

Date 4:10pm Currency Impact Detail Actual Forecast Previous Graph
FriDec 5  2:00am EUR German Factory Orders m/m 0.6% 0.8%
5:00am EUR Revised GDP q/q 0.2% 0.2%
8:30am USD Non-Farm Employment Change 231K 214K
USD Trade Balance -41.3B -43.0B
USD Unemployment Rate 5.8% 5.8%
USD Average Hourly Earnings m/m 0.2% 0.1%
8:45am USD FOMC Member Mester Speaks
10:00am USD Factory Orders m/m 0.0% -0.6%
2:45pm USD FOMC Member Fischer Speaks
3:00pm USD Consumer Credit m/m 16.5B 15.9B

his 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: Future Trading News   | Futures Trading  

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