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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 Wednesday August 8, 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 1409.57 2749.50 13200 821.97 82.83
Resistance 2 1406.43 2736.00 13180 813.63 82.63
Resistance 1 1401.97 2724.50 13150 806.37 82.47
Pivot 1398.83 2711.00 13130 798.03 82.27
Support 1 1394.37 2699.50 13100 790.77 82.11
Support 2 1391.23 2686.00 13080 782.43 81.91
Support 3 1386.77 2674.50 13050 775.17 81.75

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 1630.0 1.2509 97.29 150
Resistance 2 1625.7 1.2478 95.86 149 19/32
Resistance 1 1619.7 1.2442 94.65 149 4/32
Pivot 1615.4 1.2411 93.22 148 23/32
Support 1 1609.4 1.2375 92.01 148 8/32
Support 2 1605.1 1.2344 90.58 147 27/32
Support 3 1599.1 1.2308 89.37 147 12/32

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

Contract Dec. Corn Sept. Wheat Nov. Beans Sept. Silver
Resistance 3 818.2 897.2 1619.00 2868.7
Resistance 2 812.8 895.3 1607.25 2843.3
Resistance 1 806.7 892.2 1586.50 2824.2
Pivot 801.3 890.3 1574.75 2798.8
Support 1 795.2 887.2 1554.0 2779.7
Support 2 789.8 885.3 1542.25 2754.3
Support 3 783.7 882.2 1521.50 2735.2

5. Economic Reports


All times are Eastern time Zone (EST)

Date 3:57pm Currency Impact Detail Actual Forecast Previous Graph

Aug 8
 2:00am EUR
German Trade Balance
14.9B 15.0B
2:45am EUR
French Trade Balance
-5.1B -5.3B
6:00am EUR
German Industrial Production m/m
-0.8% 1.6%
Tentative EUR
German 10-y Bond Auction
8:30am USD
Prelim Nonfarm Productivity q/q
1.5% -0.9%
8:30am USD
Prelim Unit Labor Costs q/q
0.5% 1.3%
10:30am USD
Crude Oil Inventories
-0.6M -6.5M
1:00pm USD
10-y Bond Auction

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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