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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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Can Crude Oil Go Negative again? Daily Copper Chart & Trading Levels 4.22.2020

 

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Dear Traders,
My support levels for Crude Oil futures ( see below) are showing some NEGATIVE values!! I never seen this until yesterday….
A more in depth piece on negative commodity pricing and some implications will come tomorrow.
In between it is a good time to remind you the following:
*Expect the unexpected…
* Volatility is a game changer!! One can not use the same concept/method/trading size today when volatility is extremely high versus periods like 4 months ago when volatility was relatively low.
*Trade smaller. The bands are much larger. Watch the VIX.
* Have an idea of what you are looking to do, keep in mind possible risk and have a game plan. Now more than ever, plan your trade and than trade your plan!
* Think money management, hedging risk while you are still trying to figure out how to profit.
* Know what is going on, reports, current margins, current limits and more.
* DO NOT assume anything…if you are not sure, contact us and we will try our best to assist with the combined, vast experience we have here as a team.
* Wash hands, take this seriously and do your best to stay healthy….

Good Trading

Trading Futures, Options on Futures, Gold 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

04-21-2020

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Economic Reports, source: 

BetterTrader.com

 

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.

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