Trading Levels and Reports for August 7, 2012
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
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 Tuesday August 7, 2012
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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 | 1399.73 | 2724.33 | 13168 | 807.20 | 83.07 |
| Resistance 2 | 1397.72 | 2712.67 | 13148 | 801.60 | 82.85 |
| Resistance 1 | 1393.73 | 2700.33 | 13106 | 796.60 | 82.57 |
| Pivot | 1391.72 | 2688.67 | 13086 | 791.00 | 82.35 |
| Support 1 | 1387.73 | 2676.33 | 13044 | 786.00 | 82.07 |
| Support 2 | 1385.72 | 2664.67 | 13024 | 780.40 | 81.85 |
| Support 3 | 1381.73 | 2652.33 | 12982 | 775.40 | 81.57 |
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 | 1632.9 | 1.2556 | 94.48 | 151 3/32 | |
| Resistance 2 | 1625.7 | 1.2503 | 93.40 | 150 23/32 | |
| Resistance 1 | 1619.8 | 1.2453 | 92.78 | 150 9/32 | |
| Pivot | 1612.6 | 1.2400 | 91.70 | 149 29/32 | |
| Support 1 | 1606.7 | 1.2350 | 91.08 | 149 15/32 | |
| Support 2 | 1599.5 | 1.2297 | 90.00 | 149 3/32 | |
| Support 3 | 1593.6 | 1.2247 | 89.38 | 148 21/32 |
4. Support & Resistance Levels for Corn, Wheat, Beans and Silver
| Contract | Dec. Corn | Sept. Wheat | Nov. Beans | Sept. Silver | |
| Resistance 3 | 825.0 | 907.2 | 1608.50 | 2840.7 | |
| Resistance 2 | 817.0 | 901.1 | 1602.75 | 2817.8 | |
| Resistance 1 | 811.0 | 897.2 | 1593.50 | 2802.2 | |
| Pivot | 803.0 | 891.1 | 1587.75 | 2779.3 | |
| Support 1 | 797.0 | 887.2 | 1578.5 | 2763.7 | |
| Support 2 | 789.0 | 881.1 | 1572.75 | 2740.8 | |
| Support 3 | 783.0 | 877.2 | 1563.50 | 2725.2 |
5. Economic Reports
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 4:11pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
| Tue
Aug 7
|
4:00am | EUR |
Italian Industrial Production m/m
|
-1.0% | 0.8% | ||||
| 5:00am | EUR |
Italian Prelim GDP q/q
|
-0.7% | -0.8% | |||||
| 6:00am | EUR |
German Factory Orders m/m
|
-0.9% | 0.6% | |||||
| 2:30pm | USD |
Fed Chairman Bernanke Speaks
|
|||||||
| 3:00pm | USD |
Consumer Credit m/m
|
11.5B | 17.1B |
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 tradin
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