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Category: Crude Oil

A naturally found substance, crude oil is also one of the most traded commodities. It is crude oil that is further refined so as to make petroleum products. Just like with every other commodity, crude oil too has its specific ticker symbol, contract value and margin.

The margin is variable as it keeps changing as per the volatility in the market as well as according to the current value of the contract. If you are interested in crude oil trading or are already trading in this commodity, it is important for you to know that over the past 50 years the price of this commodity has been denominated in U.S. Dollars.

At Cannon Trading we help you trade crude oil at some of the best day trading margin rates. Our brokers will do their best to keep you aware of the market happenings to help you exercise call and put options carefully. In order to get more information on crude oil and commodities, read this category archive blog. Please feel free to share this information.

Try trading indicators for free!

Posted on by Ilan

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1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Friday November 11, 2016

Greetings!

Would you like to try trading indicators NOT found anywhere else?

If so check out https://www.cannontrading.com/tools/intraday-futures-trading-signals

Continue reading “Try trading indicators for free!”

Oil outlook by Erik Nolan of the CME group 10.28.2016

Posted on by Ilan

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1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Friday October 28, 2016

Greetings!

Good read by the CME about oil prices:

Oil: Tell-Tale Signs in U.S. Inventories

  • 25 Oct 2016
  • By Erik Norland
  • Topics: Energy

For those hoping for a sustained rebound in oil prices, U.S. inventories might present a mixed picture.  First the bad news: crude oil inventories are still near record high levels and are continuing to rise on a year-on-year basis.  Gasoline and ultra-low sulfur diesel (ULSD) inventories are also increasing year on year but to a lesser extent.  Inventories of all three remain near seasonally-adjusted record highs.

The good news is that the pace of inventory accumulation is slowing rapidly.  For a while in 2015, crude oil inventories were rising as much as 31% year on year.  Currently, they are just 5% greater than a year ago (Figure 2).  Gasoline inventories are up about 4% from last year while ULSD inventories are up about 7% from a year ago.  At their peak rate of increase, gasoline inventories rose at about 11% year on year, while ULSD inventories increased by as much as 27% year on year.

Read the rest along with graphs and charts.

Continue reading “Oil outlook by Erik Nolan of the CME group 10.28.2016”

Crude Oil Volatility and Chart 9.29.2016

Posted on by Ilan

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1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Thursday September 29, 2016

Greetings!

What a volatile day in the energy sector…..

We started with the energy report sending prices much lower only to get some reports on agreement between some of the oil producing countries to limit production…..

Buy the rumor sell the fact?

time will tell but if you are trading energies be aware of the news and adjust your trading as volatility expands like it just did…..

Daily chart of Crude Oil for fun….

Crude Oil Chart

Crude Oil Numbers Tomorrow 9.28.2016

Posted on by Ilan

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Like us on FacebookFollow us on TwitterView our profile on LinkedInFind us on Google+Cannon Trading Futures Trading Resistance & Support Levels and Economic ReportsFind us on Yelp

1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Wednesday September 28, 2016

Greetings!

We have a full day tomorrow!

Crude Oil numbers, Fed. members speaking, Draghi speaking, durable goods….

I wrote before on trading or not trading during big numbers.
Each of you is a different person, different trader and hence the importance of keeping a personal trading journal. If you trade crude oil, you will be able to look back at your journal and decide if to trade or not during crude numbers and read from past weekly reprots which will greatly help you preparing for tomorrow report.

Crude Oil and Mini SP 500 Charts – Sitting on Major Support! 9.15.2016

Posted on by Ilan

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1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Thursday September 15, 2016

Greetings!

No words of wisdom today…so instead two charts of two markets that are sitting or very close to major support.

First is the mini SP 500, followed by Crude Oil.

Mini SP 500 Daily Chart

Mini SP 500 Daily Chart

Crude Oil Daily Chart

Crude Oil Daily Chart

If you need help, feel like chatting markets or getting feedback  – we are here!

Continue reading “Crude Oil and Mini SP 500 Charts – Sitting on Major Support! 9.15.2016”

Crude Oil Outlook 8.26.2016

Posted on by Ilan

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Like us on FacebookFollow us on TwitterView our profile on LinkedInFind us on Google+Cannon Trading Futures Trading Resistance & Support Levels and Economic ReportsFind us on Yelp

1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Friday August 26, 2016

Hello Traders,

Greetings!

Crude Oil Futures Are Reaching a Decision Point
I like the potential of being bullish on crude oil futures for next few weeks! Here are a few ways you can do this:

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Crude oil futures have been providing quite a bit of excitement the last few months. Most traders, myself included, like excitement when it comes to trading. It means two things: opportunities and risks.

The recent pullback in crude oil future prices present a buying opportunity, in my opinion.

Looking at the daily chart of crude oil below, you will see that I marked what I feel should be a support level for resumption of the upside move.

Read the Rest of the article along with charts here

Continue reading “Crude Oil Outlook 8.26.2016”

Trading Crude Oil Futures on EIA Report Time 8.24.2016

Posted on by Ilan

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1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Wednesday August 24, 2016

Hello Traders,

Greetings!

Tomorrow, like almost every Wednesday, we will have EIA report at 9:30 AM Central Time. This report definitely moves the energy sector, crude oil, heating oil and unleaded gas.

The one I follow the most, as I feel it is suitable for day trading is Crude oil. I have shared many of my observations about trading crude on this blog before. Today I want to talk specifically about the report.

Two main ways in my opinion to trade the report:

  1. Don’t trade it…Get out 5 minutes before and wait 5-10 minutes after the smoke clears before you resume trading.
  2. Be flat before the report and place limit orders with corresponding stops and profit targets to buy low and/ or sell high. Perhaps look at bollinger bands on the 15 minute chart and use sell and buy limits around the extreme. If you brave enough , have enough risk capital and experience to go about it, make sure you have stops attached to these limit orders as the market can move very FAST. Not just that, you can also expect slippage. That being said, I have seen crude oil make some extreme moves right on the number only to come back either way before making another extreme move…If you looking to try this I HIGHLY recommend to use a demo account first and see how it goes. Don’t jump in with real money just because you read about it somewhere….( here in this case).

Below you will see 10 seconds chart for last Wednesday to give somewhat of an example, followed by the 15 minute chart below.

Continue reading “Trading Crude Oil Futures on EIA Report Time 8.24.2016”

What should you do when stock index futures are “dead”? 8.09.2016

Posted on by Ilan

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1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Tuesday August 09, 2016

Hello Traders,

Summer trading at its best….8 points range on the Mini SP 500 during the primary session…As a trader, that can be pretty depressing. Few things you can do when stock index futures are “dead”:

  1. Wait for them to come back a live and simply don’t trade until that happens.
  2. Look at weekly Mini SP500 options as an alternative
  3. Look at other markets ( crude oil had a nice volatile range today)

In between, feel free to reach out to us here at Cannon with any questions, feedback and comments and let us know how we can help you achieve your goals!

Here is some good reading material for when the market is slow:

https://www.cannontrading.com/community/futures-market-ranking-30-market-events

Continue reading “What should you do when stock index futures are “dead”? 8.09.2016″

Day Trading Crude Oil Futures 6.08.2016

Posted on by Ilan

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Like us on FacebookFollow us on TwitterView our profile on LinkedInFind us on Google+Cannon Trading Futures Trading Resistance & Support Levels and Economic ReportsFind us on Yelp

1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Wednesday June 08, 2016

Hello Traders,

For 2016 I would like to wish all of you discipline and patience in your trading!

Voted #1 futures trading blog! 

Crude Oil numbers tomorrow morning. As of lately it has been one of the more followed reports by all markets…..

I wrote this piece about day trading crude oil futures a couple of years ago and it is still very valid in my opinion:

Trading 102: Day Trading Using fear and greed ( using Crude Oil futures as an example)

Crude Oil Futures volatility offers a “different market personality” than stock index futures. Here is some of the things you need to know about day trading crude oil futures:

By: Ilan Levy-Mayer, Cannon Trading Commodities Broker & VP

Crude Oil is one of MY favorite futures markets for day trading. Before I dive in and share with you how the volatility in crude oil fits my risk tolerance for day trading and provide a couple of chart examples, we should review some of the specifications of Crude Oil Futures.

Crude Oil Futures have monthly expiration. So each month we trade a different contract month, so one needs to know when the first notice day and last trading day for crude oil futures are, in order to always make sure we are trading the proper month with the most liquidity and avoid any chance of getting into a delivery situation.

Next is the contract size. Crude Oil futures are based on 1000 barrels. To be honest from a day trading perspective all I care is that each tick or 1 cent fluctuation is $10 against me or in my favor per contract. That means that a move from 92.94 to 92.74 = $200.

Continue reading “Day Trading Crude Oil Futures 6.08.2016”

Crude Oil Heikin-Ashi Charts 3.09.2016

Posted on by Ilan

Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.

Like us on FacebookFollow us on TwitterView our profile on LinkedInFind us on Google+Cannon Trading Futures Trading Resistance & Support Levels and Economic ReportsFind us on Yelp

1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Wednesday March 9, 2016

Hello Traders,

For 2016 I would like to wish all of you discipline and patience in your trading!

Greetings!

 Crude Oil inventories tomorrow at 10:30 AM EST, like almost every Wednesday. On weeks when we have long weekends, the report will come out Thursday.

below you will see 1 minute chart from the last two reports, as they say, picture is worth a 1000 words….

Wednesday March 2nd 2016

Crude Oil Heikin-Ashi Charts March 2nd 2016
Crude Oil Heikin-Ashi Charts March 2nd 2016

Continue reading “Crude Oil Heikin-Ashi Charts 3.09.2016”

RISK DISCLOSURE: Past results are not necessarily indicative of future results. The risk of loss in futures trading can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition.