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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 Thursday June 02, 2016

Hello Traders,

For 2016 I would like to wish all of you discipline and patience in your trading!

Voted #1 futures trading blog! 

Looking at the calendar of reports on section 3 below and I think we  may have a volatile, big day tomorrow across many markets.

We have OPEC meeting, Crude Oil numbers ( postponed from today due to memorial day ). Natural gas numbers, ECB rate, challenger job report here, UK exit or not to exit the EU vote and more…..Should be an interesting day.

Make sure you are aware of the different times of reports/news events and how they can affect the specific markets you are 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.

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Futures Trading Levels 

Contract June 2016 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 2119.25 4573.50 18004 1183.23 96.31
Resistance 2 2109.25 4555.50 17908 1173.27 96.11
Resistance 1 2103.25 4538.75 17840 1167.53 95.74
Pivot 2093.25 4520.75 17744 1157.57 95.54
Support 1 2087.25 4504.00 17676 1151.83 95.18
Support 2 2077.25 4486.00 17580 1141.87 94.98
Support 3 2071.25 4469.25 17512 1136.13 94.61
Contract Aug. Gold July Silver July Crude Oil June Bonds June   Euro
Resistance 3 1237.6 16.40 51.24 165 19/32 1.1304
Resistance 2 1230.3 16.25 50.24 165 3/32 1.1251
Resistance 1 1222.9 16.12 49.74 164 11/32 1.1224
Pivot 1215.6 15.98 48.74 163 27/32 1.1171
Support 1 1208.2 15.85 48.24 163 3/32 1.1144
Support 2 1200.9 15.70 47.24 162 19/32 1.1091
Support 3 1193.5 15.57 46.74 161 27/32 1.1064
Contract July Corn July Wheat July Beans July SoyMeal July Nat Gas
Resistance 3 431.2 485.1 1142.08 411.90 2.53
Resistance 2 422.6 479.9 1121.42 406.10 2.46
Resistance 1 418.2 476.8 1110.58 402.60 2.42
Pivot 409.6 471.7 1089.92 396.80 2.35
Support 1 405.2 468.6 1079.1 393.3 2.3
Support 2 396.6 463.4 1058.42 387.50 2.24
Support 3 392.2 460.3 1047.58 384.00 2.20

Economic Reports


All times are Eastern time Zone (EST)

Date 3:50pm Currency Impact Detail Actual Forecast Previous Graph
ThuJun 2 All Day EUR
Italian Bank Holiday
 3:00am EUR
Spanish Unemployment Change
-110.0K -83.6K
5:00am EUR
PPI m/m
0.1% 0.3%
All Day ALL
OPEC Meetings
Tentative EUR
French 10-y Bond Auction
7:30am USD
Challenger Job Cuts y/y
7:45am EUR
Minimum Bid Rate
0.00% 0.00%
8:15am USD
ADP Non-Farm Employment Change
177K 156K
8:30am EUR
ECB Press Conference
Unemployment Claims
270K 268K
8:35am USD
FOMC Member Powell Speaks
10:30am USD
Natural Gas Storage
83B 71B
11:00am USD
Crude Oil Inventories
-2.7B -4.2M

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 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 judgement in trading.

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