Coffee Outlook, Beige Book and Crude Oil Numbers + Levels for April 17th - Support & Resistance Levels

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.

Coffee Outlook, Beige Book and Crude Oil Numbers + Levels for April 17th

Get Real Time updates and more by joining our Private Facebook Group!
Subscribe to our YouTube Channel

 

 

Powell spoke and stock index futures traded in a volatile, zig zag type of trading most of the day unable to break one way or the other and closing near the unchange.

On the daily chart, both the SP and NASDAQ are noticing more pressure to the downside.

One of the keys for day Traders is to try and establish early on what type of day trading environment they are in.

Is this going to be a trend day it is this going to be a choppy low volatility trading day? is the day unfolding has a potential to be a volatile two-sided type of trading day?

Being aware of the top of trading day that is unfolding in front of you can help you decide which strategies to apply on that trading day.

Knowing what reports are coming out. the general direction of the long term charts can help you.

Different strategies will work better in different type of trading environments.

On a different note, softs, i.e. Cocoa, cotton, Coffee , Sugar, OJ are experiencing much higher volatility than historical norms. Cocoa just dropped close to 8% today after trading above the historical mark of $100 per metric ton.

below you will see a daily chart of Coffee futures and possible future direction.

 

 

 

 

Daily Levels for April 17th, 2024

Economic Reports
provided by: ForexFactory.com
All times are Eastern Time ( New York)

Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker at 1-800-454-9572.

Explore trading methods. Register Here

* 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.

Click to rate this post!
[Total: 0 Average: 0]
Posted in: Charts & Indicators   | Commodity Brokers   | Commodity Trading   | Day Trading   | Future Trading News   | Futures Broker   | Futures Trading   | Grain Futures   | Indices  

Trading Expertise As Featured In

Trading Tips You Can Use Right Away!


Watch 4 short videos on the topics of:
  • Using Bollinger Bands and Parabolics
  • Using range Bars for Day-Trading
  • The concept of Price Confirmation
  • How to Use Support & Resistance Levels
  • License 3 Broker at your Fingertips
Loading
Loading

Loading
Loading
Loading

Loading