Trading Levels and Reports for July 18, 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 July 18, 2012
Hello Traders,
Another market that caught my eyes today is the Euro currency. I am getting a small buy signal as well for the Euro with possible targets at 123.96 and 125.34 and stop somewhere below the recent low of 121.71 ( 121.35?) in case I am wrong. If I am wrong and the market does take out the recent low, we may see another leg down before this market bounces.
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 | 1386.00 | 2647.67 | 12969 | 818.13 | 84.21 |
| Resistance 2 | 1373.25 | 2621.33 | 12865 | 809.57 | 83.95 |
| Resistance 1 | 1365.00 | 2600.67 | 12792 | 802.83 | 83.55 |
| Pivot | 1352.25 | 2574.33 | 12688 | 794.27 | 83.29 |
| Support 1 | 1344.00 | 2553.67 | 12615 | 787.53 | 82.89 |
| Support 2 | 1331.25 | 2527.33 | 12511 | 778.97 | 82.63 |
| Support 3 | 1323.00 | 2506.67 | 12438 | 772.23 | 82.23 |
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 | 1624.3 | 1.2482 | 91.88 | 152 10/32 | |
| Resistance 2 | 1611.5 | 1.2405 | 90.67 | 151 31/32 | |
| Resistance 1 | 1596.5 | 1.2352 | 89.83 | 151 15/32 | |
| Pivot | 1583.7 | 1.2275 | 88.62 | 151 4/32 | |
| Support 1 | 1568.7 | 1.2222 | 87.78 | 150 20/32 | |
| Support 2 | 1555.9 | 1.2145 | 86.57 | 150 9/32 | |
| Support 3 | 1540.9 | 1.2092 | 85.73 | 149 25/32 |
4. Support & Resistance Levels for Corn, Wheat, Beans and Silver
| Contract | Dec. Corn | Sept. Wheat | Nov. Beans | Sept. Silver | |
| Resistance 3 | 800.8 | 897.0 | 1614.17 | 2852.2 | |
| Resistance 2 | 792.4 | 894.0 | 1605.83 | 2805.8 | |
| Resistance 1 | 781.8 | 889.5 | 1598.17 | 2764.7 | |
| Pivot | 773.4 | 886.5 | 1589.83 | 2718.3 | |
| Support 1 | 762.8 | 882.0 | 1582.2 | 2677.2 | |
| Support 2 | 754.4 | 879.0 | 1573.83 | 2630.8 | |
| Support 3 | 743.8 | 874.5 | 1566.17 | 2589.7 |
5. Economic Reports
All times are Eastern time Zone (EST)
source:http://www.forexfactory.com/calendar.php
| Date | 3:32pm | Currency | Impact | Detail | Actual | Forecast | Previous | Chart | |
|
Wed
Jul 18 |
8:30am | USD |
Building Permits
|
 |
0.77M |
0.78M
|
 |
||
| 8:30am | USD |
Housing Starts
|
|
0.74M |
0.71M
|
|
|||
| 10:00am | USD |
Fed Chairman Bernanke Testifies
|
 |
||||||
| 10:30am | USD |
Crude Oil Inventories
|
|
0.5M |
-4.7M
|
|
|||
| 2:00pm | USD |
Beige Book
|
|
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
