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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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Cross Currents to Fuel Volatility Even Higher

By John Thorpe, Senior Broker
It’s clear the market has been reacting to the minute by minute changes from the international communities responses to the Russian Invasion into another sovereign country. These currents have been pushing markets violently the past week and are expected to continue to do so for days and weeks to come. However , we can’t lose sight of 3 very important domestic issues that could have far reaching global impacts as well. Here in the U.S. , on Tuesday night President Joe Biden is scheduled to give his first “State of the Union” address to the American citizens and world. Without a doubt, the futures markets will be reacting during our evening session Tuesday night March 1st 9:00 P.M. EST. Wednesday Morning 10:00 A.M. ending Thursday afternoon, Fed Chair Jerome Powell presents his report⁠—called the Monetary Policy Report⁠—that is submitted semiannually to the Senate Committee on Banking, Housing, and Urban
Affairs and to the House Committee on Financial Services, along with
testimony from the Federal Reserve Board Chair., this will be the first time Fed Chair will be answering questions directly related to the Russia/Ukraine conflict since the conflict began.
On Friday Morning at 8;30 a.m. EST the most watched labor department number is released: Nonfarm Payrolls (NFP) also known as the Employment situation report. Here are this months expectations from Econoday.com
Be vigilant while trading all futures markets and expect the unexpected. if you would like a demo, a live screen share or just a conversation with an experienced industry professional, please call Cannon Trading at 800 454 95723, if we can’t help, we will find someone who can.
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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

03-01-2022

Support and Resistance Levels 3.01.2022

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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.

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