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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 28, 2012

 

Hello Traders,

Little more volume today in stock index futures along with bit wider ranges.

 

Below is a daily chart of the mini SP.  So far it looks to me like we are still in a range.  I would look to buy on short term basis around 1385 and be a seller around 1405.

 

Be aware of the market environment you are in. Last few days we have witnessed “holiday type trading”, with lower volume, slower market and counter trend moves intraday. Just being aware of this can help you while day-trading.

 

es daily continuation 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.

 

Contract Dec. 2012 SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell Dollar Index
Resistance 3 1417.25 2676.75 13020 817.70 444.53
Resistance 2 1412.50 2667.75 12985 815.00 439.47
Resistance 1 1405.00 2654.50 12920 811.00 436.43
Pivot 1400.25 2645.50 12885 808.30 431.37
Support 1 1392.75 2632.25 12820 804.30 428.33
Support 2 1388.00 2623.25 12785 801.60 423.27
Support 3 1380.50 2610.00 12720 797.60 420.23
Contract Dec Gold Dec. Silver Jan. Crude Oil Dec. Bonds Dec. Euro
Resistance 3 1760.4 3458.5 89.47 151 31/32 1.3088
Resistance 2 1756.1 3443.0 88.86 151 17/32 1.3050
Resistance 1 1748.9 3422.0 88.05 151 7/32 1.2993
Pivot 1744.6 3406.5 87.44 150 25/32 1.2955
Support 1 1737.4 3385.5 86.63 150 15/32 1.2898
Support 2 1733.1 3370.0 86.02 150 1/32 1.2860
Support 3 1725.9 3349.0 85.21 149 23/32 1.2803
Contract March Corn March Wheat Jan. Beans Jan. Soy Meal Jan. bean Oil
Resistance 3 778.4 873.0 1466.83 444.53 50.85
Resistance 2 771.3 873.0 1458.42 439.47 50.65
Resistance 1 767.7 873.0 1453.83 436.43 50.53
Pivot 760.6 873.0 1445.42 431.37 50.33
Support 1 756.9 873.0 1440.8 428.3 50.2
Support 2 749.8 873.0 1432.42 423.27 50.01
Support 3 746.2 873.0 1427.83 420.23 49.89

 

5. Economic Reports

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

All times are Eastern time Zone (EST)

Date 4:11pm Currency Impact Detail Actual Forecast Previous Graph
Wed

Nov 28
All Day EUR
German Prelim CPI m/m
-0.1% 0.0%
 4:00am EUR
M3 Money Supply y/y
2.8% 2.7%
4:00am EUR
Private Loans y/y
-0.8% -0.8%
10:00am USD
New Home Sales
387K 389K
10:30am USD
Crude Oil Inventories
0.5M -1.5M
12:15pm USD
FOMC Member Tarullo Speaks
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 tradin

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