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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 June 7, 2012

Hello Traders,

Not much to say today…just like sometimes as a day-trader you may not have the set ups you need and when that happens, as hard as it may get, you simply need to stay patient and not take trades simply because you feel you are not doing your job etc…

So stay patient, stay disciplined, plan your trade and trade your plan.


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 June 2012 SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell Dollar Index
Resistance 3 1340.60 2600.00 12643 788.17 83.38
Resistance 2 1327.05 2573.00 12517 776.33 83.14
Resistance 1 1320.40 2558.00 12453 770.37 82.68
Pivot 1306.85 2531.00 12327 758.53 82.44
Support 1 1300.20 2516.00 12263 752.57 81.98
Support 2 1286.65 2489.00 12137 740.73 81.74
Support 3 1280.00 2474.00 12073 734.77 81.28

3. Support & Resistance Levels for Gold, Euro, Crude Oil, and U.S. T-Bonds

Contract Aug Gold June Euro July Crude Oil Sept. Bonds
Resistance 3 1665.6 1.2773 88.60 152 3/32
Resistance 2 1654.0 1.2679 87.43 151 12/32
Resistance 1 1637.6 1.2629 86.36 149 29/32
Pivot 1626.0 1.2535 85.19 149 6/32
Support 1 1609.6 1.2485 84.12 147 23/32
Support 2 1598.0 1.2391 82.95 147
Support 3 1581.6 1.2341 81.88 145 17/32

4. Support & Resistance Levels for Corn, Wheat, Beans and Silver

Contract July Corn July Wheat July Beans July Silver
Resistance 3 598.3 635.3 1402.50 3146.8
Resistance 2 592.4 631.9 1396.75 3066.7
Resistance 1 589.3 628.1 1391.50 3001.3
Pivot 583.4 624.7 1385.75 2921.2
Support 1 580.3 620.8 1380.5 2855.8
Support 2 574.4 617.4 1374.75 2775.7
Support 3 571.3 613.6 1369.50 2710.3


5. Economic Reports


All times are Eastern time Zone (EST)


Jun 7

Tentative EUR
Spanish 10-y Bond Auction
Tentative EUR
French 10-y Bond Auction
8:30am USD
Unemployment Claims
10:00am USD
Fed Chairman Bernanke Testifies
10:30am USD
Natural Gas Storage
12:10pm USD
FOMC Member Lockhart Speaks
3:00pm USD
Consumer Credit m/m

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

Tags: > > Posted in: Future Trading News   | Futures Trading  

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