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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 Thursday November 29, 2012

 

Hello Traders,

I wrote on yesterday’s blog:

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.

 

I wish I could be right like that every day…..

(-:

What’s next?

Here is an updated daily chart of the mini Russell 2000, which seems to be leading the indices group as of lately. The TF closed right against immediate resistance with the next band of resistance coming at 825-829 levels

 

 

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 1442.42 2735.33 13262 835.30 440.43
Resistance 2 1425.58 2700.42 13113 824.20 438.57
Resistance 1 1416.67 2681.33 13037 818.40 435.63
Pivot 1399.83 2646.42 12888 807.30 433.77
Support 1 1390.92 2627.33 12812 801.50 430.83
Support 2 1374.08 2592.42 12663 790.40 428.97
Support 3 1365.17 2573.33 12587 784.60 426.03
Contract Dec Gold Dec. Silver Jan. Crude Oil March Bonds Dec. Euro
Resistance 3 1777.0 3533.0 89.55 153 12/32 1.3035
Resistance 2 1760.0 3468.5 88.45 152 19/32 1.2991
Resistance 1 1739.4 3419.0 87.57 151 6/32 1.2968
Pivot 1722.4 3354.5 86.47 150 13/32 1.2924
Support 1 1701.8 3305.0 85.59 149 1.2901
Support 2 1684.8 3240.5 84.49 148 7/32 1.2857
Support 3 1664.2 3191.0 83.61 146 26/32 1.2834
Contract March Corn March Wheat Jan. Beans Jan. SoyMeal Jan. bean Oil
Resistance 3 773.7 902.5 1457.83 440.43 50.80
Resistance 2 770.3 898.3 1454.42 438.57 50.61
Resistance 1 767.2 894.8 1450.33 435.63 50.49
Pivot 763.8 890.5 1446.92 433.77 50.30
Support 1 760.7 887.0 1442.8 430.8 50.2
Support 2 757.3 882.8 1439.42 428.97 49.99
Support 3 754.2 879.3 1435.33 426.03 49.87

 


5. Economic Reports

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

All times are Eastern time Zone (EST)

Date 4:08pm Currency Impact Detail Actual Forecast Previous Graph
Thu

Nov 29
 3:55am EUR
German Unemployment Change
15K 20K
4:10am EUR
Retail PMI
45.3
Tentative EUR
Italian 10-y Bond Auction
4.81|1.5
8:30am USD
Prelim GDP q/q
2.8% 2.0%
8:30am USD
Unemployment Claims
392K 410K
8:30am USD
Prelim GDP Price Index q/q
2.8% 2.8%
9:00am USD
FOMC Member Dudley Speaks
10:00am USD
Pending Home Sales m/m
0.9% 0.3%
10:30am USD
Natural Gas Storage
-5B -38B
11:20am EUR
German Buba President Weidmann 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 trading

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