{"id":3800,"date":"2012-06-05T12:31:44","date_gmt":"2012-06-05T20:31:44","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=3800"},"modified":"2014-09-12T05:20:57","modified_gmt":"2014-09-12T13:20:57","slug":"crude-oil-bounce-trading-levels-and-economic-reports-for-6-06","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/crude-oil-bounce-trading-levels-and-economic-reports-for-6-06\/","title":{"rendered":"Crude Oil Bounce? & Trading Levels and Economic Reports for 6-06"},"content":{"rendered":"

Jump to a section in this post:<\/span><\/p>\n

1. Market Commentary<\/a><\/strong>
\n2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index<\/a><\/strong>
\n3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds<\/a><\/strong>
\n4. Support and Resistance Levels – Corn, Wheat, Beans, Silver<\/a><\/strong>
\n5. Economic Reports for Wednesday June 6, 2012<\/a><\/strong><\/p>\n

Hello Traders,<\/strong><\/p>\n

Heads up traders! Front month for bonds, ten years and other financials is now September.<\/span><\/p>\n

Front month for gold is August.<\/span><\/p>\n

June is still front month for indices and currencies.<\/span><\/p>\n

Tomorrow we have weekly Crude Oil inventories, which can usually move this market both ways pretty fast…<\/span><\/p>\n

Crude has been in a very strong downtrend last couple of months and what I see in the below daily chart, is a chance for this market to bounce up a bit, maybe to the 88 area. The trend is still down no doubt (and it is a strong trend as indicated by 99 trend strength level in the chart), but it is rare that markets go up or down with a small correction and this is what I would look for if tomorrows numbers, or more important, market reaction to the numbers are bullish.<\/span><\/p>\n

Daily Crude Oil chart for your review below:<\/strong><\/span><\/p>\n

\"\"<\/p>\n


\n<\/span><\/p>\n

GOOD TRADING!<\/strong><\/p>\n

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.<\/p>\n

 <\/p>\n

<\/a>2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index<\/strong><\/h3>\n\n\n\n\n\n\n\n\n\n\n
Contract June 2012<\/td>\nSP500 (big & Mini)<\/td>\nNasdaq100 (big & Mini)<\/td>\nDow Jones (big & Mini)<\/td>\nMini Russell<\/td>\nDollar Index<\/td>\n<\/tr>\n
Resistance 3<\/td>\n1303.83<\/td>\n2522.33<\/td>\n12205<\/td>\n767.30<\/td>\n83.77<\/td>\n<\/tr>\n
Resistance 2<\/td>\n1295.17<\/td>\n2507.17<\/td>\n12165<\/td>\n756.60<\/td>\n83.40<\/td>\n<\/tr>\n
Resistance 1<\/td>\n1289.33<\/td>\n2497.33<\/td>\n12140<\/td>\n750.40<\/td>\n83.13<\/td>\n<\/tr>\n
Pivot<\/td>\n1280.67<\/td>\n2482.17<\/td>\n12100<\/td>\n739.70<\/td>\n82.77<\/td>\n<\/tr>\n
Support 1<\/td>\n1274.83<\/td>\n2472.33<\/td>\n12075<\/td>\n733.50<\/td>\n82.50<\/td>\n<\/tr>\n
Support 2<\/td>\n1266.17<\/td>\n2457.17<\/td>\n12035<\/td>\n722.80<\/td>\n82.13<\/td>\n<\/tr>\n
Support 3<\/td>\n1260.33<\/td>\n2447.33<\/td>\n12010<\/td>\n716.60<\/td>\n81.86<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

3. Support & Resistance Levels for Gold, Euro, Crude Oil, and U.S. T-Bonds<\/strong><\/h3>\n\n\n\n\n\n\n\n\n\n\n
Contract<\/td>\nAug Gold<\/td>\nJune Euro<\/td>\nJuly Crude Oil<\/td>\nSept. Bonds<\/td>\n<\/td>\n<\/tr>\n
Resistance 3<\/td>\n1637.8<\/td>\n1.2661<\/td>\n86.61<\/td>\n151 26\/32<\/td>\n<\/td>\n<\/tr>\n
Resistance 2<\/td>\n1631.3<\/td>\n1.2602<\/td>\n85.77<\/td>\n151 16\/32<\/td>\n<\/td>\n<\/tr>\n
Resistance 1<\/td>\n1625.5<\/td>\n1.2528<\/td>\n85.00<\/td>\n151<\/td>\n<\/td>\n<\/tr>\n
Pivot<\/td>\n1619.0<\/td>\n1.2469<\/td>\n84.16<\/td>\n150 22\/32<\/td>\n<\/td>\n<\/tr>\n
Support 1<\/td>\n1613.2<\/td>\n1.2395<\/td>\n83.39<\/td>\n150 6\/32<\/td>\n<\/td>\n<\/tr>\n
Support 2<\/td>\n1606.7<\/td>\n1.2336<\/td>\n82.55<\/td>\n149 28\/32<\/td>\n<\/td>\n<\/tr>\n
Support 3<\/td>\n1600.9<\/td>\n1.2262<\/td>\n81.78<\/td>\n149 12\/32<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

4. Support & Resistance Levels for Corn, Wheat, Beans and Silver<\/strong><\/h3>\n\n\n\n\n\n\n\n\n\n\n
Contract<\/td>\nJuly Corn<\/td>\nJuly Wheat<\/td>\nJuly Beans<\/td>\nJuly Silver<\/td>\n<\/td>\n<\/tr>\n
Resistance 3<\/td>\n588.2<\/td>\n638.0<\/td>\n1369.00<\/td>\n2915.8<\/td>\n<\/td>\n<\/tr>\n
Resistance 2<\/td>\n581.3<\/td>\n632.8<\/td>\n1364.50<\/td>\n2885.2<\/td>\n<\/td>\n<\/tr>\n
Resistance 1<\/td>\n574.4<\/td>\n623.0<\/td>\n1357.00<\/td>\n2869.3<\/td>\n<\/td>\n<\/tr>\n
Pivot<\/td>\n567.6<\/td>\n617.8<\/td>\n1352.50<\/td>\n2838.7<\/td>\n<\/td>\n<\/tr>\n
Support 1<\/td>\n560.7<\/td>\n608.0<\/td>\n1345.0<\/td>\n2822.8<\/td>\n<\/td>\n<\/tr>\n
Support 2<\/td>\n553.8<\/td>\n602.8<\/td>\n1340.50<\/td>\n2792.2<\/td>\n<\/td>\n<\/tr>\n
Support 3<\/td>\n546.9<\/td>\n593.0<\/td>\n1333.00<\/td>\n2776.3<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

5. Economic Reports<\/strong><\/h3>\n

source:http:\/\/www.forexfactory.com\/calendar.php<\/a><\/p>\n

All times are Eastern time Zone (EST)<\/a><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
Wed<\/div>\n

Jun 6<\/td>\n

<\/a>\u00a0\"Up\u00a05:00am<\/td>\nEUR<\/td>\n<\/td>\n\n
Revised GDP q\/q<\/div>\n<\/td>\n
\"\"<\/a><\/td>\n<\/td>\n0.0%<\/td>\n\n
0.0%<\/div>\n<\/td>\n
\"\"<\/a><\/td>\n<\/tr>\n
6:00am<\/td>\nEUR<\/td>\n<\/td>\n\n
German Industrial Production m\/m<\/div>\n<\/td>\n
\"\"<\/a><\/td>\n<\/td>\n-0.9%<\/td>\n\n
2.8%<\/div>\n<\/td>\n
\"\"<\/a><\/td>\n<\/tr>\n
7:45am<\/td>\nEUR<\/td>\n<\/td>\n\n
Minimum Bid Rate<\/div>\n<\/td>\n
\"\"<\/a><\/td>\n<\/td>\n1.00%<\/td>\n\n
1.00%<\/div>\n<\/td>\n
\"\"<\/a><\/td>\n<\/tr>\n
8:15am<\/td>\nUSD<\/td>\n<\/td>\n\n
FOMC Member Lockhart Speaks<\/div>\n<\/td>\n
\"\"<\/a><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
8:30am<\/td>\nEUR<\/td>\n<\/td>\n\n
ECB Press Conference<\/div>\n<\/td>\n
\"\"<\/a><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
8:30am<\/td>\nUSD<\/td>\n<\/td>\n\n
Revised Nonfarm Productivity q\/q<\/div>\n<\/td>\n
\"\"<\/a><\/td>\n<\/td>\n-0.6%<\/td>\n\n
-0.5%<\/div>\n<\/td>\n
\"\"<\/a><\/td>\n<\/tr>\n
8:30am<\/td>\nUSD<\/td>\n<\/td>\n\n
Revised Unit Labor Costs q\/q<\/div>\n<\/td>\n
\"\"<\/a><\/td>\n<\/td>\n2.3%<\/td>\n\n
2.0%<\/div>\n<\/td>\n
\"\"<\/a><\/td>\n<\/tr>\n
9:30am<\/td>\nUSD<\/td>\n<\/td>\n\n
FOMC Member Lockhart Speaks<\/div>\n<\/td>\n
\"\"<\/a><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
10:00am<\/td>\nUSD<\/td>\n<\/td>\n\n
FOMC Member Tarullo Speaks<\/div>\n<\/td>\n
\"\"<\/a><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
10:30am<\/td>\nUSD<\/td>\n<\/td>\n\n
Crude Oil Inventories<\/div>\n<\/td>\n
\"\"<\/a><\/td>\n<\/td>\n-1.1M<\/td>\n\n
2.2M<\/div>\n<\/td>\n
\"\"<\/a><\/td>\n<\/tr>\n
2:00pm<\/td>\nUSD<\/td>\n<\/td>\n\n
Beige Book<\/div>\n<\/td>\n
\"\"<\/a><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
3:30pm<\/td>\nUSD<\/td>\n<\/td>\n\n
FOMC Member Williams Speaks<\/div>\n<\/td>\n
\"\"<\/a><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
7:00pm<\/td>\nUSD<\/td>\n<\/td>\n\n
FOMC Member Yellen Speaks<\/div>\n<\/td>\n
\"\"<\/a><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc<\/a>. 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<\/p>\n","protected":false},"excerpt":{"rendered":"

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 Wednesday June 6, 2012 Hello Traders, […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[119,67],"tags":[149,608,134,602],"class_list":["post-3800","post","type-post","status-publish","format-standard","hentry","category-crude-oil","category-future-trading-news","tag-commodity-futures-broker","tag-crude-oil-bounce","tag-futures-trading-brokers","tag-futures-trading-online"],"_links":{"self":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/3800","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/comments?post=3800"}],"version-history":[{"count":12,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/3800\/revisions"}],"predecessor-version":[{"id":5445,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/3800\/revisions\/5445"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=3800"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=3800"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=3800"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}