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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 Monday July 17, 2012

Hello Traders,

WORTH SHARING…from my colleague Dave Register of www.ExitPoints.com

The seven deadly sins for futures traders

 

1)      Overtrading or underfunding your account

2)      Chasing performance

3)      Using an over optimized system

4)      Failure to Always use Stop loss orders

5)      Commissions too high

6)      Large slippage in illiquid markets

7)      Emotional Trading

 

 

Visit their blog to learn about trading ideas on weekly basis and let us know if you would like more information about their trading system!

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 1360.07 2604.33 12759 805.83 84.28
Resistance 2 1356.03 2594.17 12729 802.07 84.03
Resistance 1 1351.27 2582.83 12689 798.03 83.64
Pivot 1347.23 2572.67 12659 794.27 83.39
Support 1 1342.47 2561.33 12619 790.23 83.00
Support 2 1338.43 2551.17 12589 786.47 82.75
Support 3 1333.67 2539.83 12549 782.43 82.36


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

Contract Aug Gold Sept. Euro Aug Crude Oil Sept. Bonds
Resistance 3 1614.2 1.2442 91.04 153 12/32
Resistance 2 1604.4 1.2372 89.76 152 27/32
Resistance 1 1596.8 1.2325 88.97 152 8/32
Pivot 1587.0 1.2255 87.69 151 23/32
Support 1 1579.4 1.2208 86.90 151 4/32
Support 2 1569.6 1.2138 85.62 150 19/32
Support 3 1562.0 1.2091 84.83 150


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

Contract Dec. Corn Sept. Wheat Nov. Beans Sept. Silver
Resistance 3 793.0 893.0 1612.67 2808.5
Resistance 2 785.5 889.5 1604.83 2775.5
Resistance 1 779.0 887.0 1597.67 2752.0
Pivot 771.5 883.5 1589.83 2719.0
Support 1 765.0 881.0 1582.7 2695.5
Support 2 757.5 877.5 1574.83 2662.5
Support 3 751.0 875.0 1567.67 2639.0

 

5. Economic Reports

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

Date 4:43pm Currency Impact Detail Actual Forecast Previous Chart
Tue

Jul 17

5:00am EUR
German ZEW Economic Sentiment
-17.3
-16.9
5:00am EUR
ZEW Economic Sentiment
-18.3
-20.1
8:30am USD
Core CPI m/m
0.2%
0.2%
8:30am USD
CPI m/m
0.0%
-0.3%
9:00am USD
TIC Long-Term Purchases
45.7B
25.6B
9:15am USD
Capacity Utilization Rate
79.2%
79.0%
9:15am USD
Industrial Production m/m
0.4%
-0.1%
10:00am USD
Fed Chairman Bernanke Testifies
10:00am USD
NAHB Housing Market Index
30
29
1:15pm USD
FOMC Member Pianalto Speaks

All times are Eastern time Zone (EST)

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: Crude Oil   | Future Trading News  

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