Trading Levels and Reports for August 7, 2012

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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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 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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