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Volatility: What to do when it strikes your markets, January Natural Gas, Levels, Reports; Your 4 Important, Can’t-Miss Need-To-Knows for Trading Futures on November 21st, 2025

Posted on November 20, 2025 by Cannon Operations

What is the first step to take when volatility explodes?

by Ilan Levy-Mayer, VP

At-a-Glance Levels

Instrument	S2	S1	Pivot	R1	R2
Gold (GC) — Dec (GCZ5)	3997.30	4036.20	4072.90	4111.80	4148.50
Silver (SI) — Dec (SIZ5)	48.93	49.58	50.58	51.23	52.22
Crude Oil (CL) — Dec (CLZ5)	57.63	58.17	59.14	59.68	60.65
Dec. Bonds (ZB) — Dec (ZBZ5)	115 26/32	116 13/32	116 25/32	117 12/32	117 24/32

With recent volatility sweeping through markets like gold, silver, the E-mini Nasdaq, and the E-mini S&P 500, one of the most effective ways traders can adapt is by reducing position size. In fast-moving conditions, smaller size allows for wider stops and more flexible targets—critical tools for managing risk and staying in the game.

For example, if you typically trade 5 lots, consider scaling down to 2 and giving your trades more breathing room. If you’re trading 1 lot of the ES, switching to 4 lots of the Micro E-mini (MES) can offer similar exposure with more granular control.

With most major futures contracts now offering liquid micro versions, traders have more tools than ever to stay nimble and protect capital when volatility spikes.

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January Natural Gas

January natural gas completed its first upside PriceCount objective and corrected. Now, the chart is challenging its recent high where a sustained breakout would project a possible run to the second count in the 5.07 area.

The PriceCount study is a tool that can help to project the distance of a move in price. The counts are not intended to be an ‘exact’ science but rather offer a target area for the four objectives which are based off the first leg of a move with each subsequent count having a smaller percentage of being achieved.

It is normal for the chart to react by correcting or consolidating at an objective and then either resuming its move or reversing trend. Best utilized in conjunction with other technical tools, PriceCounts offer one more way to analyze charts and help to manage your positions and risk. Learn more at www.qtchartoftheday.com

Trading in futures, options, securities, derivatives or OTC products entails significant risks which must be understood prior to trading and may not be appropriate for all investors. Past performance of actual trades or strategies is not necessarily indicative of future results.

Daily Levels for Nov. 21st, 2025

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Economic Reports

U.S. government data may be impacted by the shutdown. ‘Tentative’ events are subject to delay, revision, or cancellation

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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.