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Dear Traders,
Front month for Silver and most grains is now March.
Front month for gold is now February.
Front month for bonds and other interest futures is now March 2018.
Saudi Arabia: Turbulence on the Horizon?
There is considerable change underway in Saudi Arabia, from how the country is governed and managed to an even more activist role in the politics of the volatile Middle East. Options markets, however, appear to be almost entirely unconcerned about recent developments in the country, the world’s largest exporter of crude oil and a key U.S. ally in the Middle East.
At-the-money implied volatility on West Texas Intermediate (WTI) Crude Oil options has been trading near its lowest point since late 2014 and is well below its long-term average. For example, on November 17, 90-day WTI options closed at 23% implied volatility, well below their 31% average so far this decade (Figure 1). Are markets too complacent in the face of potential political disruption in Saudi Arabia and its neighboring countries. READ THE REST
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
11-30-2017
| Contract December 2017 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | BitCoin Index |
| Resistance 3 | 2647.58 | 6543.67 | 24142 | 1566.33 | 13202.77 |
| Resistance 2 | 2640.92 | 6486.08 | 24044 | 1558.47 | 12291.50 |
| Resistance 1 | 2633.08 | 6398.17 | 23986 | 1550.23 | 10993.51 |
| Pivot | 2626.42 | 6340.58 | 23888 | 1542.37 | 10082.24 |
| Support 1 | 2618.58 | 6252.67 | 23830 | 1534.13 | 8784.25 |
| Support 2 | 2611.92 | 6195.08 | 23732 | 1526.27 | 7872.98 |
| Support 3 | 2604.08 | 6107.17 | 23674 | 1518.03 | 6574.99 |
| Contract | Feb. Gold | Mar. Silver | Jan. Crude Oil | Mar. Bonds | Dec. Euro |
| Resistance 3 | 1312.5 | 17.27 | 59.77 | 155 4/32 | 1.1964 |
| Resistance 2 | 1306.4 | 17.12 | 59.03 | 154 12/32 | 1.1930 |
| Resistance 1 | 1297.2 | 16.86 | 58.22 | 153 8/32 | 1.1898 |
| Pivot | 1291.1 | 16.71 | 57.48 | 152 16/32 | 1.1863 |
| Support 1 | 1281.9 | 16.45 | 56.67 | 151 12/32 | 1.1831 |
| Support 2 | 1275.8 | 16.30 | 55.93 | 150 20/32 | 1.1797 |
| Support 3 | 1266.6 | 16.04 | 55.12 | 149 16/32 | 1.1765 |
| Contract | Mar. Corn | Mar. Wheat | January Beans | Mar. SoyMeal | Jan. Nat Gas |
| Resistance 3 | 358.3 | 439.3 | 1001.50 | 333.73 | 3.31 |
| Resistance 2 | 356.0 | 437.4 | 999.00 | 331.57 | 3.27 |
| Resistance 1 | 354.8 | 436.1 | 995.75 | 329.43 | 3.22 |
| Pivot | 352.5 | 434.2 | 993.25 | 327.27 | 3.17 |
| Support 1 | 351.3 | 432.8 | 990.0 | 325.1 | 3.1 |
| Support 2 | 349.0 | 430.9 | 987.50 | 322.97 | 3.08 |
| Support 3 | 347.8 | 429.6 | 984.25 | 320.83 | 3.04 |
Economic Reports, source:
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.
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