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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.


Sell off In Bitcoin & Support and Resistance Levels 5.18.2021

Dear Traders,

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Sell off in Bitcoin, rally in gold and silver, very choppy action in stock indices to start the week.
Some of our morning excerpt below for a different type of insight into the markets – join our FB group for free to view these updates in real-time at https://www.facebook.com/groups/1105191589938254 :
GOOD MORNING.
NO NUMBERS THIS MORNING
TOMORROW
HOUSING STARTS & PERMITS
Money managers again had strong hands in looking for any weakness to buy. With the LONG END of the interest rate at negative and the FED’s Q.E. of
$80 billion a month / $1.44 TRILLION for the year, they’re forcing money managers to take risk. The only place for returns now is equities. Also the 1st nine to 12 months of inflation is positive for equities, then they turn the lights out.
The FED also has the stimulus money as an undercurrent for now.
M S&P
4159.50 OBJECTIVE has been met.
LOW was 4105.25 ****
Friday’s SUPPORT was 4106.25 ****
SUPPORT 4162.00
4093.75
CRITICAL KEY SUPPORT!!
CLOSE BELOW TRIGGERS
4017.50
MASSIVE SUPPORT
3976.75
M S&P
RESISTANCE:
4245.50
4217.25 Buy SCO
4193.00
M S&P Closed 4169.00 +62.00
SUPPORT:
4095.25
4067.25 Sell SCO
4034.75
M S&P
FIBONACCI RETRACEMENTS:
4238.25 to 3710.50
38.2% = 4037.00 *****
50.0% = 3974.50
61.8% = 3912.25
Money flow for M S&P’S:
Negative= N / Positive= P
M CRUDE -0.13 / Neutral
N COPPER +2.45 / P
M BONDS +0.01 / Neutral
M YEN + 0.155 / N
M PALLADIUM +2.40 / P
M US$ – 0.093 / P
M NASDAQ
MAJOR RESISTANCE 13,257.25
CLOSE ABOVE TRIGGERS SHORT COVERING UP TO 13,367.50
KEY RESISTANCE 13,523.00
MAJOR RESISTANCE 13,674.09
KEY PIVOT 13,368.75
M NASDAQ
RESISTANCE:
13,997.00
13,855.50 Buy SCO
13,733.75
M NASDAQ Closed 13,387.00 +286.75
SUPPORT:
13,318.50
13,217.75 Sell SCO
13,100.50
M NASDAQ
FIBONACCI RETRACEMENTS:
14,064 to 12,200
38.2% = 13,348.50
50.0% = 13,128.25
61.8% = 12,908.00 / LOW 12,915
Important: Trading commodity futures and options involves a substantial risk of loss.
The recommendations contained in this letter are of opinion only and do not guarantee any profits.
There is not an actual account trading these recommendations.
Past performances are not necessarily indicative of future results.

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

5-18-2021

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.

Posted in: Future Trading News  

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Weekly Newsletter #1051 Options on Futures, Market Pick on Gold and Futures Levels for the Week Ahead 5.17.2021

Cannon Futures Weekly Newsletter Issue # 1051

Dear Traders,

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Trading 102: Options on Futures In Depth Information (Note: When volatility is SO HIGH, options can provide additional ways for possible hedging and alternative speculation – our brokers will be happy to assist)

A comprehensive resource for information on options on futures
In this section you will read and learn about the following:
*Options Basics
*Options Strategies for Bullish set ups
*Options Strategies for Bearish set ups
*Options Strategies for Neutral set ups
*Selling Options Premium – an overview
And much more!

Market Pick Review for the Week:

Gold futures finished the trading week with strength. Looking at the daily chart below, I like the formation and the strength into the weekly close to confirm two trading signals I personally like:
The Blue arrow (highlighted) and the bars turning green (Highlighted as well)
Gold Futures Chart Outlook
To access a free trial to the ALGOS shown in the chart along with other tools? (Arrows possible buy/sell, diamonds = possible exit/ tighten stops) visit and sign up for a free trial for 21 days with real-time data.
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

5-17-2021

 

Weekly Levels

Reports, First Notice (FN), Last trading (LT) Days for the Week:

https://mrci.com

Date Reports/Expiration Notice Dates

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 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

Tags: > > > > > > Posted in: Gold Futures   | Weekly Newsletter  

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Price Limit Rules; Soybean Futures Outlook & Support and Resistance Levels 5.14.2021

Dear Traders,

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Traders, Know Your Limits
Are you trading any futures contracts that incorporate daily price limits?
A price limit is the maximum price range permitted for a futures contract in each trading session. When markets hit the price limit, different actions occur depending on the product being traded. Markets may temporarily halt until price limits can be expanded, remain in a limit condition or stop trading for the day, based on regulatory rules.
It’s important to know these price limits during the trading day to make sure your trades are never left hanging during a price limit halt.
Visit the CME Group web site for the price limits that apply to the markets you’re trading:
Beans daily chart for your review below. The big question…is this a simple profit taking pull back of a major bull run or the beginning of reversal to the downside? Time will tell but some levels to watch below. Click for LARGER IMAGE

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

5-14-2021

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.

Posted in: Future Trading News  

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A Closer Look at Nasdaq Futures (NQ) & Support and Resistance Levels 5.13.2021

Dear Traders,

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A quick look at NASDAQ100 futures, the NQ in the chart below:
NASDAQ 100 Futures Picking Up Speed On The Way Down
Ilan Levy-mayer – Wed May 12, 12:01PM CDT
On May 4th I shared the following post: Nasdaq 100 Shifted Momentum
As sometimes happen, the chart provided me with the right clues and the market dropped quite a bit since then.

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

5-13-2021

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.

Posted in: Future Trading News  

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Futures Support and Resistance Levels 5.12.2021

Dear Traders,

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Get Real Time updates and more on our private FB group!
No words of wisdom today…simply levels and reports for tomorrow below.

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

5-12-2021

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.

Posted in: Future Trading News  

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