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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 Friday July 13, 2012

Hello Traders,

We saw some volatility in the markets today and swings on both sides. I expect more volatility during tomorrow’s session, which MOST day-traders like. Remember to adjust your trading size LOWER as volatility gets HIGHER….

Below is a daily chart of the mini Russell 2000 contract.
Tomorrow is Friday the 13th…I think if we take out today’s lows, the door will open for a more serious downside move.

Daily Mini Russell Chart

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.

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 1350.67 2588.08 12710 808.43 84.40
Resistance 2 1342.58 2569.17 12635 799.37 84.19
Resistance 1 1336.17 2553.83 12575 792.93 83.99
Pivot 1328.08 2534.92 12500 783.87 83.79
Support 1 1321.67 2519.58 12440 777.43 83.59
Support 2 1313.58 2500.67 12365 768.37 83.38
Support 3 1307.17 2485.33 12305 761.93 83.18


3. Support & Resistance Levels for Gold, Euro, Crude Oil, and U.S. T-Bonds

ontract Aug Gold Sept. Euro Aug Crude Oil Sept. Bonds
Resistance 3 1605.4 1.2338 88.89 152 31/32
Resistance 2 1591.6 1.2299 87.63 152 10/32
Resistance 1 1581.9 1.2255 86.73 151 31/32
Pivot 1568.1 1.2216 85.47 151 10/32
Support 1 1558.4 1.2172 84.57 150 31/32
Support 2 1544.6 1.2133 83.31 150 10/32
Support 3 1534.9 1.2089 82.41 149 31/32

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

Contract Dec. Corn Sept. Wheat Nov. Beans Sept. Silver
Resistance 3 780.3 900.8 1553.00 2844.7
Resistance 2 759.8 879.4 1546.00 2789.8
Resistance 1 746.0 863.1 1537.50 2752.2
Pivot 725.5 841.7 1530.50 2697.3
Support 1 711.8 825.3 1522.0 2659.7
Support 2 691.3 803.9 1515.00 2604.8
Support 3 677.5 787.6 1506.50 2567.2

5. Economic Reports

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

All times are Eastern time Zone (EST)

Date 4:07pm Currency Impact Detail Actual Forecast Previous Chart
Fri

Jul 13

Tentative EUR
Italian 10-y Bond Auction
6.19|1.3
8:30am USD
PPI m/m
-0.5%
-1.0%
8:30am USD
Core PPI m/m
0.3%
0.2%
9:55am USD
Prelim UoM Consumer Sentiment
73.5
73.2
9:55am USD
Prelim UoM Inflation Expectations
3.1%
1:20pm USD
FOMC Member Lockhart Speaks

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

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