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Crude Oil Leading Many Markets? & Support and Resistance Levels 10.06.2021

Dear Traders,

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Crude Oil Leading Many Markets?

I was doing some homework last night, back testing different entry signals etc.
By mistake I plugged in a system that takes crude oil signals and applies it to the current market I was testing – Seems that these past 2 years or so, signals taken based on crude oil were more accurate ( using this specific trend following formula I was using) than signals based on the underlying contract!! To clarify I am testing longer term model using the DAILY chart.
Cotton, Coffee, Corn, beans, Gold and SP500 all did better based on price action/ signals using crude oil prices than their own data!!
Obviously this requires more in depth work, statistical analysis and forward testing but I thought it was interesting enough to share with you and give you some ideas perhaps even something to look into on intra day basis?
Speaking on crude pay attention to inventory report tomorrow.

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 when it comes to Futures Trading.

 

Futures Trading Levels

10-06-2021

Support and Resistance Levels 10.06.2021

Economic Reports, source: 

 www.BetterTrader.co

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 as well as options on futures.

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