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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 Monday July 31, 2012


Hello Traders,

August Gold is entering delivery period, so if you are trading gold, make sure you start trading December gold. Symbol for December is Z.

On a different note: If you are a day trader, how do you prepare for the trading day?

Do you simply turn on the machine and start trading? I hope not…

Here are a few pointers I recommend my clients as preparation for the trading day:


↔Know what reports are coming out that day

↔Overview of longer time frames (daily, hourly, 30 minutes)

↔Key support and resistance levels

↔Go over your equity run and make sure your statement is correct

↔Make sure your surroundings will enable you to trade

↔Fit trading into your schedule, life style not vice versa

↔Do you have a daily loss limit? Profit target?


These are just a few things any daytrader should do in order to be better prepared for the trading day. As always if you need any personalized feedback, feel free to visit our trader profile page or email me.

Also please like us on Facebook!!


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 Sept. 2012 SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell Dollar Index
Resistance 3 1396.10 2680.67 13138 807.97 83.35
Resistance 2 1391.70 2669.33 13105 803.23 83.20
Resistance 1 1385.60 2651.67 13057 796.27 83.04
Pivot 1381.20 2640.33 13024 791.53 82.88
Support 1 1375.10 2622.67 12976 784.57 82.72
Support 2 1370.70 2611.33 12943 779.83 82.57
Support 3 1364.60 2593.67 12895 772.87 82.41

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

Contract Dec Gold Sept. Euro Sept. Crude Oil Sept. Bonds
Resistance 3 1644.8 1.2396 92.22 152 25/32
Resistance 2 1636.8 1.2356 91.58 151 31/32
Resistance 1 1631.1 1.2312 90.60 151 17/32
Pivot 1624.1 1.2272 89.96 150 23/32
Support 1 1618.4 1.2228 88.98 150 9/32
Support 2 1611.4 1.2188 88.34 149 15/32
Support 3 1607.7 1.2144 87.36 149 1/32

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

Contract Dec. Corn Sept. Wheat Nov. Beans Sept. Silver
Resistance 3 824.5 927.7 1664.67 2906.8
Resistance 2 821.0 922.8 1655.83 2863.2
Resistance 1 817.5 918.7 1649.67 2838.8
Pivot 814.0 913.8 1640.83 2795.2
Support 1 810.5 909.7 1634.7 2770.8
Support 2 807.0 904.8 1625.83 2727.2
Support 3 803.5 900.7 1619.67 2702.8

5. Economic Reports

All times are Eastern time Zone (EST)

Date 4:23pm Currency Impact Detail Actual Forecast Previous Graph

Jul 31
2:00am EUR
German Retail Sales m/m
0.6% -0.3%
2:45am EUR
French Consumer Spending m/m
0.2% 0.4%
3:55am EUR
German Unemployment Change
9K 7K
4:00am EUR
Italian Monthly Unemployment Rate
10.2% 10.1%
5:00am EUR
CPI Flash Estimate y/y
2.4% 2.4%
5:00am EUR
Unemployment Rate
11.2% 11.1%
5:00am EUR
Italian Prelim CPI m/m
0.3% 0.2%
8:30am USD
Core PCE Price Index m/m
0.2% 0.1%
8:30am USD
Employment Cost Index q/q
0.5% 0.4%
8:30am USD
Personal Spending m/m
0.1% 0.0%
8:30am USD
Personal Income m/m
0.5% 0.2%
9:00am USD
S&P/CS Composite-20 HPI y/y
-1.5% -1.9%
9:45am USD
Chicago PMI
52.6 52.9
10:00am USD
CB Consumer Confidence
61.5 62.0
4:00pm USD
Treasury Sec Geithner Speaks

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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