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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 November 21, 2012

 

Hello Traders,

 If you are an “emini trader” please read the below notice.  The short version of the message below is as follows:

 

Until now, 3:15 PM  Central time was the cut off and was considered the end of the day for margin purposes. As of this Sunday, 4:15 PM Central time is considered the end of the day for all purposes including day-trading margins. Please read below and let me know if you have any questions.

Effective this Sunday, November 18 for trade date Monday, November 19, electronic trading hours on CME Globex for equity index futures and options, including the e-mini S&P 500, e-mini Dow ($5), e-mini NASDAQ 100, and other contracts, will be changed to the following:

 

All Times Listed in Central Time (CT)

* Monday-Friday: 5:00 p.m. the previous day – 4:15 p.m.
* There will be a 15-minute trading halt from 3:15 p.m. – 3:30 p.m.

Please note: For all applicable contracts affected by the new trading session times, any trades done before the 4:15 p.m. end of trading session will be considered same business day trades. Any contract that is held in customer accounts at the 4:15 p.m close will require full exchange margin. Any trades done after the market reopen at 5:00 p.m. will be considered next day’s business. Also, all of these products will now end at 4:15 p.m. on Fridays, as opposed to the previous close time of 3:15 p.m.

 

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.

 

Contract Dec. 2012  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell Dollar Index
Resistance 3 1402.17 2627.25 12892 800.40 444.93
Resistance 2 1394.83 2612.00 12833 796.70 438.07
Resistance 1 1388.67 2598.50 12787 793.40 433.83
Pivot 1381.33 2583.25 12728 789.70 426.97
Support 1 1375.17 2569.75 12682 786.40 422.73
Support 2 1367.83 2554.50 12623 782.70 415.87
Support 3 1361.67 2541.00 12577 779.40 411.63
Contract Dec Gold Dec. Silver Jan. Crude Oil Dec. Bonds Dec. Euro
Resistance 3 1749.1 3370.7 91.79 152  3/32 1.2909
Resistance 2 1742.6 3348.3 90.49 151 23/32 1.2870
Resistance 1 1734.9 3330.7 88.77 151  3/32 1.2845
Pivot 1728.4 3308.3 87.47 150 23/32 1.2806
Support 1 1720.7 3290.7 85.75 150  3/32 1.2781
Support 2 1714.2 3268.3 84.45 149 23/32 1.2742
Support 3 1706.5 3250.7 82.73 149  3/32 1.2717
Contract Dec. Corn Dec. Wheat Jan. Beans Dec. SoyMeal Dec. bean Oil
Resistance 3 761.8 849.8 1454.67 444.93 49.57
Resistance 2 755.9 848.7 1434.58 438.07 49.15
Resistance 1 751.6 846.8 1423.67 433.83 48.91
Pivot 745.7 845.7 1403.58 426.97 48.49
Support 1 741.3 843.8 1392.7 422.7 48.2
Support 2 735.4 842.7 1372.58 415.87 47.83
Support 3 731.1 840.8 1361.67 411.63 47.59

 


5. Economic Reports

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

All times are Eastern time Zone (EST)

Date 3:55pm Currency Impact Detail Actual Forecast Previous Graph
Wed

Nov 21
 Tentative EUR
German 10-y Bond Auction
1.56|1.5
8:30am USD
Unemployment Claims
415K 439K
9:00am USD
Flash Manufacturing PMI
51.2 51.0
9:55am USD
Revised UoM Consumer Sentiment
84.3 84.9
9:55am USD
Revised UoM Inflation Expectations
3.0%
10:00am USD
CB Leading Index m/m
0.2% 0.6%
10:30am USD
Crude Oil Inventories
0.8M 1.1M
12:00pm USD
Natural Gas Storage
-27B -18B

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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