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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.

Hello Traders,

For 2014 I would like to wish all of you discipline and patience in your trading!


Is the Wheat rally real or just a short covering bounce?

Along with the rest of the grain complex and many other commodities, the wheat market has taken a serious beating, declining from $7.64 in May to $4.66 in late September! That is a very serious drop in price (close to 40%!!) in a short period of time.


In recent weeks, the wheat market has bounced almost $0.60 from its lows and the big question longer term traders, as well as swing traders, are asking themselves, is the following: Is this just a chance to go short again or is this the beginning of a reversal to the upside.

Read the rest at:

Along with the rest of the grain complex and many other commodities, the wheat market has taken a serious beating, declining from $7.64 in May to $4.66 in late September.

– See more at: http://experts.forexmagnates.com/#sthash.pFOdBQdO.dpuf





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. Past performance is not indicative to future results.


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Futures Trading Levels

Contract Dec. 2014 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 1994.75 4124.42 17030 1153.43 86.38
Resistance 2 1975.50 4074.58 16862 1136.77 86.22
Resistance 1 1960.75 4039.17 16740 1125.53 86.09
Pivot 1941.50 3989.33 16572 1108.87 85.92
Support 1 1926.75 3953.92 16450 1097.63 85.79
Support 2 1907.50 3904.08 16282 1080.97 85.63
Support 3 1892.75 3868.67 16160 1069.73 85.50
Contract December Gold Dec.Silver Dec. Crude Oil Dec. Bonds Dec. Euro
Resistance 3 1261.3 17.51 85.20 144 9/32 1.2745
Resistance 2 1253.1 17.38 83.78 143 19/32 1.2712
Resistance 1 1242.7 17.29 82.88 142 20/32 1.2682
Pivot 1234.5 17.16 81.46 141 30/32 1.2649
Support 1 1224.1 17.08 80.56 140 31/32 1.2619
Support 2 1215.9 16.95 79.14 140 9/32 1.2586
Support 3 1205.5 16.86 78.24 139 10/32 1.2556
Contract Dec Corn Dec. Wheat Nov. Beans Dec. SoyMeal Dec. bean Oil
Resistance 3 367.8 531.7 1025.17 377.13 33.16
Resistance 2 363.9 529.6 1009.58 365.27 32.96
Resistance 1 361.8 528.2 1001.42 358.83 32.81
Pivot 357.9 526.1 985.83 346.97 32.61
Support 1 355.8 524.7 977.7 340.5 32.5
Support 2 351.9 522.6 962.08 328.67 32.26
Support 3 349.8 521.2 953.92 322.23 32.11
Economic Reports

source: http://www.forexfactory.com/calendar.php

All times are Eastern time Zone (EST)


Date 4:32pm Currency Impact Detail Actual Forecast Previous Graph
FriOct 24  2:00am EUR GfK German Consumer Climate 8.1 8.3
4:00am EUR Italian Retail Sales m/m 0.2% -0.1%
Day 2 EUR EU Economic Summit
9:00am EUR Belgian NBB Business Climate -7.8 -7.2
10:00am USD New Home Sales 473K 504K


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 judgment in trading.

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

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