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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Crude Oil and Stock Index Futures: Small Bounce or Short-Term Bottom?

Posted on by Ilan

Jump to a section in this post:

1. Market Commentary
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Economic Reports for Tuesday May 22, 2012

Hello Traders,

We started the week with nice bounce on stock indices, crude oil  and gold continue to hold.

The big question: Is this a small correction/ bounce after the strong sell off last week or is this a short term bottom?

 

My opinion is that it is just a normal bounce after strong sell off and that there is more room on the downside but we will need to see the market reaction if we can climb up to 1320 and 1337 on the SP and  94.50 on the crude oil

 

Daily charts of both below for your review:

 


Mini SP daily Chart

mini sp daily

 

Crude Oil Futures Daily chart 
crude oil futures daily chart

 

Continue reading “Crude Oil and Stock Index Futures: Small Bounce or Short-Term Bottom?”

Monday Morning Support and Resistance Numbers

Posted on by Ilan

 

If you would like these numbers before the market opens, make sure you SIGN UP with your email above.

Here’s a morning cup o’ joe for all you futures traders, our morning support and resistance levels. Good trading!

divider black 190

Support and Resistance Levels – S&P 500, Nasdaq 100, Dow Jones, Mini Russell 2000, 30-Year US Bond, 10-Year US Note

Contract (June) Mini S&P 500 Mini Nasdaq 100 Dow Jones Mini Russell 2000 30-Year US Bond 10-Year US Note
Resistance Level 3——————————————Resistance Level 2

——————————————

Resistance Level 1

——————————————

Support Level 1

——————————————

Support Level 2

——————————————

Support Level 3

 1318.51308

 

1304

 

1290.75

 

1281

 

1278

 25562537

 

2511

 

2465

 

2444

 

2428

 1259812529

 

12451

 

12352

 

12318

 

12248

 768.6762.4

 

755.5

 

742.3

 

732.5

 

731.6

 14823 (all time high)14806

14727

 

14714

 

14624

 

14518

 13327 (all time high)13323

13320.5

 

13306

 

13226.5

 

13216.5

Continue reading “Monday Morning Support and Resistance Numbers”

Mini Russell 2000 Chart | Support & Resistance Levels

Posted on by Ilan

Jump to a section in this post:

1. Market Commentary
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Economic Reports for Monday May 21, 2012

Hello Traders,

Below is a screen shot from part of this morning volatile session in the mini Russell 2000 with my daytrading signals I share with clients/ prospects. If interested in viewing my intra-day charts on trial basis,please visit and register for a free trial online.

Mini Russell 2000 Chart

weekly gold

Continue reading “Mini Russell 2000 Chart | Support & Resistance Levels”

Friday Morning Support and Resistance Numbers

Posted on by Ilan

If you would like these numbers before the market opens, make sure you SIGN UP with your email above.

Here’s a morning cup o’ joe for all you futures traders, our morning support and resistance levels. Good trading!

divider black 190

Support and Resistance Levels – S&P 500, Nasdaq 100, Dow Jones, Mini Russell 2000, 30-Year US Bond, 10-Year US Note

Contract (June) Mini S&P 500 Mini Nasdaq 100 Dow Jones Mini Russell 2000 30-Year US Bond 10-Year US Note
Resistance Level 3 ——————————————Resistance Level 2

——————————————

Resistance Level 1

——————————————

Support Level 1

——————————————

Support Level 2

——————————————

Support Level 3

 13321323

1312.75

 

1303.25

 

1299.50

 

1296.00

 25562544

2532

 

2492

 

2481

 

2463

 1267212596

12512

 

12432

 

12401

 

12352

 770.8765.1

758.8

 

746.8

 

741.3

 

732.5

 14823 (all time high)14813

14807

 

14719

 

14708

 

14629

 13327 (all time high)13323

13320.5

 

13300

 

13222

 

13213

Continue reading “Friday Morning Support and Resistance Numbers”

Markets Pick Up Volatility | Support & Resistance Levels

Posted on by Ilan

 

Jump to a section in this post:

1. Market Commentary
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000
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 May 18, 2012

 

Hello Traders,

Markets have picked up some volatility. Indices, energies, metals, grains – are all experiencing some big moves and higher volatility.

Couple of tips I want to share:

1. Higher volatility requires SMALLER trading size, since the trading bands are now going to be wider.

2. It’s ok to “miss a trade” better than a bad trade, so don’t chase the market…

3. If you are daytrading, try the following: place your entry level very close to where you were originally going to place your stop order and place your stop order higher or lower than that. Yes you will “miss ” more than a few trades but this may help increase your chances of a good trades when you get in rather than get stopped out

Below you will see two charts of the GOLD market. Weekly and daily. Gold has hit a strong support level and may be due for a nice bounce. I think if tomorrow we can have a strong weekly and daily close, than chances for a strong bounce are higher, on the other hand failure to finish the week with momentum may trigger another run at the lows and perhaps breaking these lows.

“Plan your trade, trade your plan!”

GOLD WEEKLY

571

 

GOLD DAILY

572

Continue reading “Markets Pick Up Volatility | Support & Resistance Levels”

Thursday Morning Support and Resistance Numbers

Posted on by Ilan

If you would like these numbers before the market opens, make sure you SIGN UP with your email above.

Here’s a morning cup o’ joe for all you futures traders, our morning support and resistance levels. Good trading!

divider black 190

Support and Resistance Levels – S&P 500, Nasdaq 100, Dow Jones, Mini Russell 2000, 30-Year US Bond, 10-Year US Note

Contract (June) Mini S&P 500 Mini Nasdaq 100 Dow Jones Mini Russell 2000 30-Year US Bond 10-Year US Note
Resistance Level 3——————————————Resistance Level 2

——————————————

Resistance Level 1

——————————————

Support Level 1

——————————————

Support Level 2

——————————————

Support Level 3

 1352.51336.75

 

1329.5

 

1315.75

 

1308.25

 

1296.00

 26242583

 

2569

 

2583

 

2563.75

 

2543

 1281912708

 

12647

 

12533

 

12460

 

12248

 780776.4

 

772.5

 

765

 

756.1

 

741.3

 1472914716

 

14706 (all time high)

14609

 

14526

 

14431

 13319.5 (all time high)13312.5 

13308

 

13300

 

13222

 

13213

Continue reading “Thursday Morning Support and Resistance Numbers”

Weekly Chart of the Mini NASDAQ | Support and Resistance Levels

Posted on by Ilan

 

Jump to a section in this post:
1. Market Commentary
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Economic Reports for Thursday May 17, 2012

 

Hello Traders,

Weekly chart of the mini NASDAQ with possible levels to watch for your review below.

Patience, discipline and ability to accept losses are some of the biggest keys for any trading, especially for day-trading.

Write your rules down, post them on the computer and make a conscious effort to follow them. I know when I follow my own rules, it helps me and sometimes the biggest battle is just staying disciplined.

Continue reading “Weekly Chart of the Mini NASDAQ | Support and Resistance Levels”

Tuesday May 15th Support and Resistance Levels – Gold, Oil, S&P and More

Posted on by Ilan

 

Jump to a section in this post:
1. Market Commentary
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Economic Reports for  Wednesday May 16, 2012

 

Hello Traders,

Cannon Trading Co, Inc. NEW WEBSITE IS LIVE!

Same great information, more tools and much better presentation and ease of navigation!

Continue reading “Tuesday May 15th Support and Resistance Levels – Gold, Oil, S&P and More”

Tuesday Morning Support and Resistance Numbers

Posted on by Ilan

If you would like these numbers before the market opens, make sure you SIGN UP with your email above.

Here’s a morning cup o’ joe for all you futures traders, our morning support and resistance levels. Good trading!

divider black 190

Support and Resistance Levels – S&P 500, Nasdaq 100, Dow Jones, Mini Russell 2000, 30-Year US Bond, 10-Year US Note

Contract (June) Mini S&P 500 Mini Nasdaq 100 Dow Jones Mini Russell 2000 30-Year US Bond 10-Year US Note
Resistance Level 3 ——————————————Resistance Level 2

——————————————

Resistance Level 1

——————————————

Support Level 1

——————————————

Support Level 2

——————————————

Support Level 3

 1362.751352

 

1346.75

 

1333.75

 

1329.25

 

1315.75

 26472624

 

2607

 

2581

 

2575

 

2543

 1283012791

 

12730

 

12630

 

12511

 

12476

 794.9786.9

 

782

 

774.1

 

772.2

 

756

 14700 (all time high)14626 

14620

 

14508

 

14416

 

14328

 13331.513324.5

 

13319.5 (all time high)

13229

 

13225

 

13217.5

Continue reading “Tuesday Morning Support and Resistance Numbers”

Cannon Trading New Website! | Support and Resistance Levels

Posted on by Ilan

Jump to a section in this post:
1. Market Commentary
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Economic Reports for Tuesday May 15, 2012

 

Hello Traders,

Cannon Trading Co, Inc. NEW WEBSITE TO LAUNCH TONIGHT!

Same great information, more tools and much better presentation and ease of navigation!

 

I wrote Friday after the close: 

“I thought we finished the week on a somewhat bearish note….

The market tried to penetrate higher the last 3 sessions and failed each time.

Also I got a sell signal on the weekly chart which I am attaching below for your review.

I think what type of price action we will see ( if ) when we trade at  1336- 1339 area, may give us further clues about this market. “

Well we tested this area today and did not get much of a bounce and actually closed right at 1336.

To me this shift the medium – longer term stance into bearish but as I said in the past, each day is different and one can not tell what the next day will bring…..

On a different note ( market) , weekly chart of the gold market for your review below with some key areas to watch.

Continue reading “Cannon Trading New Website! | Support and Resistance Levels”

RISK DISCLOSURE: Past results are not necessarily indicative of future results. The risk of loss in futures trading can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition.