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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 November 16, 2012


Hello Traders,

I have been “playing around” , testing renko charts for day trading set ups and find them intriguing enough to spend some more time studying renko charts along with some indicators I like for different day-trading set ups.

Below you will see two screen shots from today’s session. Both use Renko charts





Would you like to have access to my DIAMOND and TOPAZ ALGOs as shown above and be able to apply for any market and any time frame on your own PC ?   You can now have a two weeks free trial where I enable the ALGO along with few studies for your own sierra/ ATcharts.

To start your trial, please visit: https://www.cannontrading.com/tools/intraday-futures-trading-signals

If so, please send me an email with the following information:

1. Are you currently trading futures?

2. Charting software you use?

3. If you use sierra or ATcharts, please let me know the user name so I can enable you

4. Markets you currently 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.


Contract Dec. 2012 SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell Dollar Index
Resistance 3 1371.17 2565.33 12660 786.00 445.10
Resistance 2 1365.08 2553.17 12610 780.20 441.90
Resistance 1 1357.42 2537.08 12565 773.90 436.20
Pivot 1351.33 2524.92 12515 768.10 433.00
Support 1 1343.67 2508.83 12470 761.80 427.30
Support 2 1337.58 2496.67 12420 756.00 424.10
Support 3 1329.92 2480.58 12375 749.70 418.40
Contract Dec Gold Dec. Silver Jan. Crude Oil Dec. Bonds Dec. Euro
Resistance 3 1749.7 3347.2 89.22 153 14/32 1.2900
Resistance 2 1738.8 3312.3 88.24 152 31/32 1.2853
Resistance 1 1726.3 3284.7 87.07 152 16/32 1.2814
Pivot 1715.4 3249.8 86.09 152 1/32 1.2767
Support 1 1702.9 3222.2 84.92 151 18/32 1.2728
Support 2 1692.0 3187.3 83.94 151 3/32 1.2681
Support 3 1679.5 3159.7 82.77 150 20/32 1.2642
Contract Dec. Corn Dec. Wheat Jan. Beans Dec. SoyMeal Dec. bean Oil
Resistance 3 729.0 858.7 1425.00 445.10 48.33
Resistance 2 727.3 855.8 1420.00 441.90 48.14
Resistance 1 724.3 850.7 1411.00 436.20 47.80
Pivot 722.5 847.8 1406.00 433.00 47.61
Support 1 719.5 842.7 1397.0 427.3 47.3
Support 2 717.8 839.8 1392.00 424.10 47.08
Support 3 714.8 834.7 1383.00 418.40 46.74

5. Economic Reports


All times are Eastern time Zone (EST)

Date 4:17pm Currency Impact Detail Actual Forecast Previous Graph

Nov 16
4:00am EUR
Current Account
9.2B 8.8B
4:00am EUR
Italian Trade Balance
-0.54B -0.60B
5:00am EUR
Trade Balance
10.6B 9.9B
5:30am EUR
German Buba President Weidmann Speaks
9:00am USD
TIC Long-Term Purchases
75.0B 90.0B
9:15am USD
Capacity Utilization Rate
78.4% 78.3%
9:15am USD
Industrial Production m/m
0.2% 0.4%
3:45pm 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 tradin


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