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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.


Thanksgiving Trading Schedule & Levels 11.26-27.2020

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Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!  

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Dear Traders,

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Get Real Time updates and market alerts on Twitter!
Happy Thanksgiving to all our clients, blog readers and their families.
wishing you much health and prosperity to be thankful for!
Please see below for modified trading hours for the next two days.

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

11-26 & 27-2020

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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COVID 19 and Futures Trading & Gold Weekly Chart, & Support and Resistance Levels 11.25.2020

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Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!  

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Dear Traders,

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Nice article by my colleague, Mark O’Brien:
COVID 19 and Futures Trading
The sweep of the coronavirus around the world ranks as one of the most impactful events in decades. Due in large part to sweeping lockdowns of businesses, travel and social activities, global markets, particularly commodity markets, have experienced price disruptions on an unprecedented scale. Recall earlier this year, the front month crude oil futures contract (May) traded at a value below $0.00 per barrel and at the close of trading one day, its price settled at a negative value. Conversely, gold’s December futures contract recently reached an all-time high above $2,000 per ounce. These price moves and similar ones – in silver, copper, stock indexes like the S&P 500, Nasdaq & Dow Jones, lumber and others – can be at least partly attributed to abrupt changes in supply & demand patterns during this international health crisis and its effects on producers’ and consumers’ behavior.
Weekly Gold Chart Above. Last week I wrote: “Despite a few bearish signals, price seems to hold.
A test of support at 1830 and price action at that level ( if…) will signal future direction.
For now choppy with downward pressure.”
Next level to watch is 1757

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

11-25-2020

Economic Reports, source: 

https://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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Gold & Silver Futures & Support and Resistance Levels 11.24.2020

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Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!  

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Dear Traders,

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GOLD Futures GC:
February is now the lead month for Gold futures.
March is now the lead month for silver futures.
A quick note about trading signals/indicators etc.
A filter I like to use at times is called price confirmation.
“Price confirmation”?
What I mean by price confirmation is as follows: just because a signal appears, does not mean we have a crystal ball. In order to increase chances of a good trade I like to enter trades using a stop order. I want to see that price action actually follows the signal, so if I get a long signal, I will look at the bar preceding the signal and place a buy stop order either X # of ticks above that high (depending on the time of the day and the signal). If I get a sell signal, I will look at the bar preceding the signal and place a sell stop X # of ticks below that low (depending on the time of the day and the signal)
I try to enter SOME TRADES using STOP ORDERS
Note about stops: THE PLACEMENT OF CONTINGENT ORDERS BY YOU OR YOUR TRADING ADVISOR, SUCH AS A ‘‘STOP-LOSS’’OR ‘‘STOP-LIMIT’’ ORDER, WILL NOT NECESSARILY LIMIT YOUR LOSSES TO THE INTENDED AMOUNTS, SINCE MARKET CONDITIONS MAY MAKE IT IMPOSSIBLE TO EXECUTE SUCH ORDERS.

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

11-24-2020

Economic Reports, source: 

https://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 #1030 – Thanksgiving Holiday Trading Schedule – Free Opportunities & Risk PDF – Copper Weekly Chart – Trading Levels 11.23.2020

Cannon Futures Weekly Letter Issue # 1030

Dear Traders,

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Thanksgiving 2020 Holiday Schedule for CME / Globex and ICE Exchange
Trading 101: Opportunities and Risk, an Educational Guide to Trading Futures and Options
93 page PDF eBook available for instant download
*Learn about futures basics
*Learn about options basics
*Margins and margin calculations
*Spreads
*Options spreads and calculations
*Trading Strategies
*Regulations
*Much More!
Dr. Copper climbing towards the highs from Jan 2018
Weekly Chart along with “turning points” signals
and possible elves for your review.
To access a free trial to the ALGOS shown in the chart along with other tools, 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

11-23-2020

 

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 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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Thanksgiving 2020 Holiday Schedule for CME / Globex and ICE Exchange

Thanksgiving 2020 Holiday Schedule for CME / Globex and ICE Exchange

 

*Dates and times are subject to change

If you have any questions, please call the CME Global Command Center at +1 800 438 8616, in Europe at +44 800 898 013 or in Asia at +65 6532 5010

Globex® Thanksgiving Day 2020 Holiday Schedule for CME / Globex and ICE Exchange

More details at: http://www.cmegroup.com/tools-information/holiday-calendar.html 

ICE Futures Thanksgiving Day 2020 Holiday Schedule for CME / Globex and ICE Exchange

Detailed holiday hours for ICE Futures: https://www.theice.com/holiday-hours

The above sources were compiled from sources believed to be reliable. Cannon Trading assumes no responsibility for any errors or omissions.  It is meant as an alert to events that may affect trading strategies and is not necessarily complete.  The closing times for certain contracts may have been rescheduled.

Posted in: Future Trading News  

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  • Using Bollinger Bands and Parabolics
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  • The concept of Price Confirmation
  • How to Use Support & Resistance Levels
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