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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.

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Wednesday Sept. 15th insight by Mark O’Brien, Cannon Senior Futures Broker:

Market Insight: Natural Gas

In just three weeks of trading (Aug. 25-today), Oct, natural gas has made a massive ±$1.50 rally ($15,000 per contract), doubling in price from a year earlier reaching prices not seen since early 2014. Yet, at ±$5.50 per million British thermal units (MMBtu), natural gas prices are a fraction of that in Europe and Asia where prices have approached $18.00-20.00 MMBtu! The fundamental bases for these high prices: the U.S. is behind schedule stocking up for the winter. At the same time, it’s an important exporter to Europe which is in its own precarious supply situation with storage for winter ±16% below its 5-yr. average.
What’s next for prices depends largely on what kind of winter is in store for the U.S. and Europe and the degree to which U.S. producers can ramp up on storage. Catching up on the 5-yr. average build-up will be closely monitored.

Daily Chart below

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.
Past performances are not necessarily indicative of future results.
Natural Gas Futures Chart
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

9-16-2021

Support and Resistance Levels 9.16.2021

 

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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.

Posted in: Energy Futures   | Future Trading News  

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