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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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Big moves across the board the day after FOMC.
Strong US $ resulted in weak metals, grains and currencies. Strong bond market and VERY volatile stock index trading.
Nasdaq making all time highs while Dow was down over 500 points at one point.
If you are a member of our FREE Facebook group, you would have had access to the information below BEFORE the day started ( if you are NOT a member, simply visit: https://business.facebook.com/groups/1105191589938254/ ) :
06.17.21 Thursday post FOMC days can see very large moves.
SCO = STOP CLOSE ONLY
MA= MOVING AVERAGE
GOOD MORNING.
FOMC DECISION:
FED FUNDS
NO CHANGE 0 – 0.25%
ASSET PURCHASES PROGRAM of
$120 billion per month remains intact.
2021 INFLATION FORECAST:
UP 1.0%
From 2.4% to 3.4%
Unemployment:
Seen at 4.5% for 2021
3.8% for 2022
THE DEFLATIONARY SPIRAL MAY STILL
BE LINGERING. THAT’S WHY THE INFLATIONARY TRADE ISN’T GAINING ANY TRACTION AND THE FED MAY BE CORRECT
ALGO IS LONG THE US $ AGAIN, WHICH
IS HAMMERING THE GOLD & SILVER.
Chicago
Export Sales 7:30
Jobless Claims 7:30
U S&P
KEY MA 4191.75
LOW yesterday 4190.25
MUST HOLD!
CLOSE BELOW 4191.50 triggers 4156.00
KEY MA 4173.75
Market must hold to
maintain SECULAR Bull TREND.
4173.50 close triggers 4105.00
4063.75 is MASSIVE MA SUPPORT
CRITICAL MA SUPPORT!!
4018.75
MUST HOLD!!
U S&P
ALGO RESISTANCE:
4240.25
4231.50 Buy SCO
4224.00
U S&P Closed 4213.00 -23.50
ALGO SUPPORT:
4194.75
4186.50 Sell SCO
4177.00
U NASDAQ
MA SUPPORT:
13,697.75
MAJOR SUPPORT
13,656.75 *******
KEY MA!!
MUST HOLD!!
A close below damages the Secular Bull trend and triggers 13,470.00
CRITICAL MA SUPPORT
13,422.50 ******
LAST MA 13,418.00
U NASDAQ Closed 13,972.75 -49.00
ALGO SUPPORT:
13,970.25
13,942.50 Sell SCO
13,911.50
13,710.74
13,649.50 Sell SCO
13,578.25
U NASDAQ
FIBONACCI RETRACEMENTS:
14,155.25 to 12,906
38.2% = 13,679
50.0% = 13,531.25
61.8% = 13,384.50
N CRUDE
74.75 is the next OBJECTIVE,
then 80.00 long term.
N CRUDE Closed $72.15 +0.03
N CRUDE
ALGO SUPPORT:
70.65
70.30 Sell SCO
69.91
67.93 Key MA
66.11 CRITICAL MA
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.
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

6-18-2021

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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