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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 14, 2012

Hello Traders,

First off heads up on some contract months changes:

1. Front month for stock indices, financials and many other markets is September.

2. June mini SP, mini NASDAQ, Russell, Dow etc. will expire Friday morning right before the open, so make sure you start trading September if you have not already done so!

3. June currencies are about to enter delivery stage, which can be costly. I highly recommend starting to trade September currencies as of Friday morning .

As far market direction, SP 500 still looks to be locked in between 1297 – 1342. My guess is that which ever way we going to break first will have chance for momentum continuation.

Be disciplined, be patient and trade well!


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 Sept. 2012 SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell Dollar Index
Resistance 3 1335.27 2585.00 12633 775.97 83.17
Resistance 2 1327.98 2569.00 12577 768.93 82.88
Resistance 1 1318.37 2546.00 12498 758.97 82.50
Pivot 1311.08 2530.00 12442 751.93 82.21
Support 1 1301.47 2507.00 12363 741.97 81.83
Support 2 1294.18 2491.00 12307 734.93 81.54
Support 3 1284.57 2468.00 12228 724.97 81.16

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 1646.8 1.2772 85.54 151 20/32
Resistance 2 1636.4 1.2692 84.77 150 17/32
Resistance 1 1627.8 1.2635 83.68 149 26/32
Pivot 1617.4 1.2555 82.91 148 23/32
Support 1 1608.8 1.2498 81.82 148
Support 2 1598.4 1.2418 81.05 146 29/32
Support 3 1589.8 1.2361 79.96 146 6/32

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

Contract July Corn July Wheat July Beans July Silver
Resistance 3 623.7 626.3 1439.00 2942.8
Resistance 2 612.8 624.0 1431.75 2926.2
Resistance 1 602.7 620.0 1420.00 2903.3
Pivot 591.8 617.8 1412.75 2886.7
Support 1 581.7 613.8 1401.0 2863.8
Support 2 570.8 611.5 1393.75 2847.2
Support 3 560.7 607.5 1382.00 2824.3

5. Economic Reports


All times are Eastern time Zone (EST)


Jun 14

 Up Next 2:00am EUR
German WPI m/m
4:00am EUR
ECB Monthly Bulletin
5:00am EUR
CPI y/y
5:00am EUR
Core CPI y/y
All Day ALL
OPEC Meetings
8:30am USD
Core CPI m/m
8:30am USD
Unemployment Claims
8:30am USD
CPI m/m
8:30am USD
Current Account
10:30am USD
Natural Gas Storage
1:00pm USD
30-y Bond Auction

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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