Trading Levels and Reports for December 5, 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 Wednesday December 5, 2012
Hello Traders,
The market that caught my eyes today was actually gold. Down over $20.
Daily chart of February Gold for your review below. While I think we will see some bounces and moves both ways, the medium target for gold will be 1676 and 1648. If the market manages to close above 1740 the bullish tone will return.
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.
5. Economic Reports
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 4:02pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
| Wed
Dec 5
|
3:15am | EUR |
Spanish Services PMI
|
41.2 | |||||
| 3:45am | EUR |
Italian Services PMI
|
46.0 | 46.0 | |||||
| 4:00am | EUR |
Final Services PMI
|
45.7 | 45.7 | |||||
| 5:00am | EUR |
Retail Sales m/m
|
-0.1% | -0.2% | |||||
| Tentative | EUR |
Spanish 10-y Bond Auction
|
5.52|1.8 | ||||||
| 8:15am | USD |
ADP Non-Farm Employment Change
|
129K | 158K | |||||
| 8:30am | USD |
Revised Nonfarm Productivity q/q
|
2.7% | 1.9% | |||||
| 8:30am | USD |
Revised Unit Labor Costs q/q
|
-0.9% | -0.1% | |||||
| 10:00am | USD |
ISM Non-Manufacturing PMI
|
53.6 | 54.2 | |||||
| 10:00am | USD |
Factory Orders m/m
|
0.0% | 4.8% | |||||
| 10:30am | USD |
Crude Oil Inventories
|
-0.4M | -0.3M |
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
