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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 November 9, 2012

 

Hello Traders,

Market definitely broke to the downside following the election results.

We closed today below the 1384 support level, which opens the door for a test of 1358.

Keep in mind that the day-trading ranges are getting wider, volatility is picking up. For me personally that means two things:

Trade SMALLER quantity and give your trades more room, be more patient on your entries.

Daily chart of the mini SP for your review below:

es daily chart nov. 8th

 

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.

 

Contract Dec. 2012 SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell Dollar Index
Resistance 3 1412.00 2660.08 13028 813.27 478.47
Resistance 2 1404.75 2641.67 12977 808.93 475.03
Resistance 1 1391.25 2608.33 12888 800.97 468.97
Pivot 1384.00 2589.92 12837 796.63 465.53
Support 1 1370.50 2556.58 12748 788.67 459.47
Support 2 1363.25 2538.17 12697 784.33 456.03
Support 3 1349.75 2504.83 12608 776.37 449.97
Contract Dec Gold Dec. Silver Dec. Crude Oil Dec. Bonds Dec. Euro
Resistance 3 1763.7 3350.0 87.17 153 20/32 1.2838
Resistance 2 1749.4 3297.5 86.43 152 16/32 1.2810
Resistance 1 1741.2 3268.0 85.69 151 31/32 1.2778
Pivot 1726.9 3215.5 84.95 150 27/32 1.2750
Support 1 1718.7 3186.0 84.21 150 10/32 1.2718
Support 2 1704.4 3133.5 83.47 149 6/32 1.2690
Support 3 1696.2 3104.0 82.73 148 21/32 1.2658
Contract Dec. Corn Dec. Wheat Jan. Beans Dec. SoyMeal Dec. bean Oil
Resistance 3 751.0 917.8 1513.83 478.47 49.64
Resistance 2 748.8 910.2 1509.92 475.03 49.41
Resistance 1 745.0 906.3 1502.83 468.97 49.09
Pivot 742.8 898.7 1498.92 465.53 48.86
Support 1 739.0 894.8 1491.8 459.5 48.5
Support 2 736.8 887.2 1487.92 456.03 48.31
Support 3 733.0 883.3 1480.83 449.97 47.99

 

 


5. Economic Reports

All times are Eastern time Zone (EST)

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

Date 4:03pm Currency Impact Detail Actual Forecast Previous Graph
Fri

Nov 9
 2:00am EUR
German Final CPI m/m
0.0% 0.0%
2:45am EUR
French Industrial Production m/m
-0.9% 1.5%
2:45am EUR
French Gov Budget Balance
-97.7B
4:00am EUR
Italian Industrial Production m/m
-1.4% 1.7%
8:30am USD
Import Prices m/m
0.0% 1.1%
9:55am USD
Prelim UoM Consumer Sentiment
82.6 82.6
9:55am USD
Prelim UoM Inflation Expectations
3.1%
10:00am USD
Wholesale Inventories m/m
0.4% 0.5%

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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