Can Crude Oil Go Negative again? Daily Copper Chart & Trading Levels 4.22.2020
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
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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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.
Posted in: Future Trading News
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