Weekly Directional Bias - Support & Resistance Levels 8.7.2018 - Support & Resistance Levels

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.

Weekly Directional Bias – Support & Resistance Levels 8.7.2018

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Dear Traders,

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Every Monday morning (actually, Sunday night most of the time), I run a scan of the major commodities’ weekly charts using some indicators I have learned to trust.
The scan produces a list of markets that will meet certain criteria and point to the chances that any of those commodities will continue moving in a certain direction.
This week’s results revealed the following:
Above a 60% chance to see a continued higher trend:
Wheat
Mini SP
Mini Dow
Above 60% to see a continued lower trend:
British Pound
Japanese Yen
Gold
Ten year notes

We would be more than happy to assist you and go over more details and possible strategies, if interested.  Feel free to contact us any time.

 

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.

Futures Trading Levels

08-07-2018

 

Contract September 2018  SP500 #ES_F Nasdaq100  #NQ_F Dow Jones  #YM_F Mini Russell #RTY_F BitCoin Index #XBT_F
Resistance 3 2875.83 7529.92 25700 1709.20 8087.45
Resistance 2 2864.67 7489.83 25604 1698.40 7829.58
Resistance 1 2857.33 7467.67 25538 1692.60 7389.64
Pivot 2846.17 7427.58 25442 1681.80 7131.77
Support 1 2838.83 7405.42 25376 1676.00 6691.83
Support 2 2827.67 7365.33 25280 1665.20 6433.96
Support 3 2820.33 7343.17 25214 1659.40 5994.02
Contract December Gold #GC_F Sept. Silver #SI-F Sept. Crude Oil #CL-F Sept.  Bonds  #ZB_F Sept.  Euro #6E_F
Resistance 3 1234.1 15.65 71.09 144  5/32 1.1650
Resistance 2 1230.1 15.58 70.51 143 27/32 1.1628
Resistance 1 1222.5 15.44 69.67 143 15/32 1.1609
Pivot 1218.5 15.37 69.09 143  5/32 1.1587
Support 1 1210.9 15.24 68.25 142 25/32 1.1568
Support 2 1206.9 15.17 67.67 142 15/32 1.1546
Support 3 1199.3 15.03 66.83 142  3/32 1.1527
Contract Dec.  Corn #ZC_F Sept. Wheat #ZW_F Nov. Beans #ZS_F Dec. SoyMeal #ZM_F Sept. Nat Gas #NG_F
Resistance 3 389.3 597.4 904.00 338.30 2.92
Resistance 2 387.8 586.8 899.50 335.30 2.89
Resistance 1 386.5 580.7 896.50 332.40 2.87
Pivot 385.0 570.1 892.00 329.40 2.85
Support 1 383.8 563.9 889.0 326.5 2.8
Support 2 382.3 553.3 884.50 323.50 2.80
Support 3 381.0 547.2 881.50 320.60 2.79

Economic Reports, source: 

https://app.bettertrader.com

 

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.

Posted in: Future Trading News  

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