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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.

Jump to a section in this post:

1. Market Commentary
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Economic Reports for Friday June 1, 2012

Hello Traders,

Heads up traders! front month for bonds, ten years and other financials is now September.

Front month for gold is August.

June is still front month for indices and currencies.

Monthly employment figures are out tomorrow at 8:30 Am Eastern Time! This is a market moving report, so be prepared!

May is officially behind us ( trading wise) and with the new trading month starting, I decided to share monthly chart of mini SP 500 below for your longer term overview.

May June be a trading month filled with patience and discipline!

 

Monthly chart of the mini S&P for your review below:

mini S&P futures monthly chart

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.

 

2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index

Contract June 2012 SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell Dollar Index
Resistance 3 1342.83 2579.33 12650 784.43 83.83
Resistance 2 1330.67 2559.67 12555 775.07 83.56
Resistance 1 1321.83 2545.33 12495 768.43 83.34
Pivot 1309.67 2525.67 12400 759.07 83.07
Support 1 1300.83 2511.33 12340 752.43 82.85
Support 2 1288.67 2491.67 12245 743.07 82.58
Support 3 1279.83 2477.33 12185 736.43 82.36

3. Support & Resistance Levels for Gold, Euro, Crude Oil, and U.S. T-Bonds

Contract Aug Gold June Euro July Crude Oil Sept. Bonds
Resistance 3 1597.3 1.2511 90.38 153 11/32
Resistance 2 1585.9 1.2470 89.33 152 2/32
Resistance 1 1575.7 1.2419 87.96 151 2/32
Pivot 1564.3 1.2378 86.91 149 25/32
Support 1 1554.1 1.2327 85.54 148 25/32
Support 2 1542.7 1.2286 84.49 147 16/32
Support 3 1532.5 1.2235 83.12 146 16/32

4. Support & Resistance Levels for Corn, Wheat, Beans and Silver

Contract July Corn July Wheat July Beans July Silver
Resistance 3 569.4 655.8 1383.17 2882.0
Resistance 2 566.1 652.9 1374.33 2850.5
Resistance 1 560.7 648.3 1357.17 2814.0
Pivot 557.3 645.4 1348.33 2782.5
Support 1 551.9 640.8 1331.2 2746.0
Support 2 548.6 637.9 1322.33 2714.5
Support 3 543.2 633.3 1305.17 2678.0

5. Economic Reports

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

All times are Eastern time Zone (EST)

Fri

Jun 1

 Up Next 3:45am EUR
Italian Manufacturing PMI
43.5
43.8
4:00am EUR
Final Manufacturing PMI
45.0
45.0
4:00am EUR
Italian Monthly Unemployment Rate
9.9%
9.8%
5:00am EUR
Unemployment Rate
11.0%
10.9%
8:30am USD
Non-Farm Employment Change
151K
115K
8:30am USD
Unemployment Rate
8.1%
8.1%
8:30am USD
Average Hourly Earnings m/m
0.2%
0.0%
8:30am USD
Core PCE Price Index m/m
0.2%
0.2%
8:30am USD
Personal Spending m/m
0.3%
0.3%
8:30am USD
Personal Income m/m
0.4%
0.4%
9:00am USD
Final Manufacturing PMI
53.9
10:00am USD
ISM Manufacturing PMI
54.0
54.8
10:00am USD
Construction Spending m/m
0.4%
0.1%
10:00am USD
ISM Manufacturing Prices
57.1
61.0
All Day USD
Total Vehicle Sales
14.4M
14.4M

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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