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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 January 23, 2013

 

Hello Traders,

For 2013 I would like to wish all of you discipline and patience in your trading!

Market continues to extend it’s rally and we are getting close to what I consider major resistance right at 1498 (which is almost the same as the psychological 1500 level). Personally, I like to see the market price action going down before entering a short trade, i.e just because we are getting close to the major resistance levels does not mean I will enter a short, BUT if price action generates a sell signal, it will give me more confidence in taking that short. Until then I will be watching for this possible swing/medium term type of trade and will do my best not to let it interfere with day-trades set up which are a whole different time frame.
mini sp 500 daily chart jan 22 2013

 

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.

 

support and resistance levels

 

 

5. Economic Reports

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

All times are Eastern time Zone (EST)

Date 4:09pm Currency Impact Detail Actual Forecast Previous Graph
WedJan 23 Day 1 ALL WEF Annual Meetings
 9:00am USD HPI m/m 0.7% 0.5%
10:00am EUR Consumer Confidence -26 -27

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

Tags: > > > Posted in: Future Trading News  

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