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Strong Sell Off to Start the Week | Support and Resistance Levels

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 April 24, 2012

 

Hello Traders,

Strong sell off to start the week. We have two day FOMC meeting with announcement coming Wednesday Morning.

Hourly chart of the mini SP with potential extensions both for a bounce up or continued move down below for your information:

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

Contract (June 2012) SP500
(big & Mini)
Nasdaq100
(big & Mini)
Dow Jones
(big & Mini)
Mini Russell
Resistance 3 1376.67 2691.67 12997 819.23
Resistance 2 1370.23 2672.83 12938 810.07
Resistance 1 1366.87 2662.67 12907 800.03
Pivot 1360.43 2643.83 12848 790.87
Support 1 1357.07 2633.67 12817 780.83
Support 2 1350.63 2614.83 12758 771.67
Support 3 1347.27 2604.67 12727 761.63

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

Contract June Gold June Euro May Crude Oil June Bonds
Resistance 3 1668.3 1.3320 106.12 144 9/32
Resistance 2 1656.3 1.3267 105.01 143 23/32
Resistance 1 1647.7 1.3213 104.04 143 6/32
Pivot 1635.7 1.3160 102.93 142 20/32
Support 1 1627.1 1.3106 101.96 142 3/32
Support 2 1615.1 1.3053 100.85 141 17/32
Support 3 1606.5 1.2999 99.88 141

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

Contract May Corn May Wheat May Beans May Silver
Resistance 3 625.2 647.5 1464.92 3277.5
Resistance 2 618.8 640.5 1459.33 3223.0
Resistance 1 615.7 636.5 1450.17 3154.0
Pivot 609.3 629.5 1444.58 3099.5
Support 1 606.2 625.5 1435.4 3030.5
Support 2 599.8 618.5 1429.83 2976.0
Support 3 596.7 614.5 1420.67 2907.0


5. Economic Reports

5:00am EUR
Industrial New Orders m/m

9:00am EUR
Belgium NBB Business Climate

9:00am EUR
S&P/CS Composite-20 HPI y/y

10:00am USD
CB Consumer Confidence

10:00am USD
New Home Sales

10:00am USD
OFHEO HPI m/m

10:00am USD
Richmond Manufacturing Index

Tags: > > Posted in: Future Trading News  

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