Trading Levels for Futures 8.19.2016 - Cannon Trading

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.

Trading Levels for Futures 8.19.2016

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1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Friday August 19, 2016

Hello Traders,


As some of you know, Cannon has the advantage of clearing through different clearing houses using multiple trading platforms. Note below applies only to clients trading through Transact.

Update to our Clients using Transact and Shogun:

As many of you know, Transact gatekeeper experienced a failure today which prevented some clients from logging in to the software and trade earlier today.

Many clients/ traders who were already logged in, did not experience any interruptions to their trading.

We apologize for the inconvenience this may have caused to some clients. This is the first time we experienced a failure such as this in our 14 years of clearing business through Transact.

That being said, we are pleased to share that we were able to close/ offset trades for any client who needed to and contacted us. Online trading has more than a few risks, one of them is technology failure like we experienced today. This is where the human factor comes in and as mentioned earlier we were able to assist clients via the phone in a relatively quick manner.

Transact developers identified the problem and fixed it.  The developers are implementing steps to prevent issues such as this from happening again.

Please check your account statements carefully this evening / tomorrow morning and contact us with any issues.We don’t expect any, but it’s important to be extra vigilant.

We look forward to smooth and successful trading going forward.

Again, your patience is appreciated.


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.

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Futures Trading Levels

Levels for Trade Date of  8.17.2016

Contract Sept. 2016 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 2194.42 4837.67 18658 1251.10 95.01
Resistance 2 2189.33 4825.83 18617 1243.50 94.82
Resistance 1 2186.42 4816.42 18588 1239.00 94.45
Pivot 2181.33 4804.58 18547 1231.40 94.26
Support 1 2178.42 4795.17 18518 1226.90 93.90
Support 2 2173.33 4783.33 18477 1219.30 93.71
Support 3 2170.42 4773.92 18448 1214.80 93.34
Contract Dec. Gold Sept. Silver Sept. Crude Oil Sept. Bonds Sept.   Euro
Resistance 3 1372.7 20.23 51.30 173 10/32 1.1478
Resistance 2 1367.1 20.09 50.17 172 25/32 1.1427
Resistance 1 1362.4 19.92 49.53 172 11/32 1.1401
Pivot 1356.8 19.77 48.40 171 26/32 1.1350
Support 1 1352.1 19.60 47.76 171 12/32 1.1324
Support 2 1346.5 19.46 46.63 170 27/32 1.1273
Support 3 1341.8 19.29 45.99 170 13/32 1.1247
Contract Dec. Corn Sept. Wheat Nov. Beans Dec. SoyMeal Sept. Nat Gas
Resistance 3 350.1 438.0 1042.58 343.50 2.81
Resistance 2 346.2 433.0 1029.67 338.60 2.75
Resistance 1 344.1 430.0 1022.08 334.90 2.71
Pivot 340.2 425.0 1009.17 330.00 2.66
Support 1 338.1 422.0 1001.6 326.3 2.6
Support 2 334.2 417.0 988.67 321.40 2.56
Support 3 332.1 414.0 981.08 317.70 2.52


All times are Eastern time Zone (EST)

Date 4:08pm Currency Impact Detail Actual Forecast Previous Graph
FriAug 19  2:00am EUR
German PPI m/m
0.1% 0.4%
4:30am GBP
Public Sector Net Borrowing
-2.3B 7.3B

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 here in 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 judgement in trading.

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