1-800-454-9572 info@cannontrading.com

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.


In this post:

1. Market Commentary

2. Support and Resistance Levels

3. Daily Mini Mini S&P 500 Futures Chart

1. Market Commentary

Today’s rally was impressive and completed my target I mentioned over a week ago.

We crossed the 50 day moving average and closed above it as well. The BIG question is ” was the fact that this price action took place during a bank holiday on MUCH lower volume be a fake out?”

I guess the next few days will provide answers, in between daily chart of the SP500 ( big Sp, pit session) for your review below ( I included the 50 day Moving Avg. as well as the 100 day moving avg.):

GOOD TRADING!

2. SUPPORT AND RESISTANCE LEVELS

Contract (Dec. 2011) SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1219.33 2375.92 1164 721.90
Resistance 2 1205.67 2326.58 11569 703.40
Resistance 1 1198.33 2301.67 11469 693.30
Pivot 1184.67 2252.33 11274 674.80
Support 1 1177.33 2227.42 11174 664.70
Support 2 1163.67 2178.08 10979 646.20
Support 3 1156.33 2153.17 10879 636.10

 

Contract Dec. Gold Dec. Euro Nov. Crude Oil Dec. Bonds
Resistance 3 1702.5 1.4081 90.32 141 29/32
Resistance 2 1689.6 1.3886 88.21 141 2/32
Resistance 1 1683.2 1.3762 86.98 140 9/32
Pivot 1670.3 1.3567 84.87 1139 14/32
Support 1 1663.9 1.3443 83.64 138 21/32
Support 2 1651.0 1.3248 81.53 137 26/32
Support 3 1644.6 1.3124 80.30 137 1/32

3. Daily Mini S&P 500 Futures Chart from October 10, 2011

Daily Mini S&P 500 Futures Chart from October 10, 2011


Tags: > Posted in: Trading Guide  

Trading Expertise As Featured In

Trading Tips You Can Use Right Away!


Watch 4 short videos on the topics of:
  • Using Bollinger Bands and Parabolics
  • Using range Bars for Day-Trading
  • The concept of Price Confirmation
  • How to Use Support & Resistance Levels
  • License 3 Broker at your Fingertips
Loading
Loading

Loading

Partners

Loading
Loading

Loading