Crude Oil Futures & Economic Reports 3.25.2015
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
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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 March 25, 2015
Hello Traders,
For 2015 I would like to wish all of you discipline and patience in your trading!
One of my favorite markets for day trading is crude oil. Actually not this month… it has taken way too much money out of my system… but normally it is. I like the fast action and some of the set ups both fear and greed present in this market.
Tomorrow is API (American Petroleum Institute) report that normally comes out Wednesday at 9:30 CDT (on short weeks, holidays etc. , this report will be pushed to Thursday at 10 AM CDT). I tell my clients that this report is way too volatile and I like to be out 5 minutes before and not resume trading 5 minutes until after the report comes out. This report by itself deserves a writing but on short, the report provides information on how our stock pile is doing ( = supply/demand) and the market will move based on the numbers versus what was expected. Again as a day trader, your main job is to know about this report, when it comes out and in my opinion stay out of the market during this time.
Observe crude oil futures tomorrow during the time of report to get a feel.
If you never traded crude oil futures before, observe for a bit and try doing so in demo mode first.
I wrote an article about this topic, you can access at:
GOOD TRADING
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.
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| Contract June 2015 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2113.83 | 4488.00 | 18192 | 1271.37 | 98.95 |
| Resistance 2 | 2107.42 | 4474.50 | 18135 | 1268.03 | 98.31 |
| Resistance 1 | 2095.83 | 4451.25 | 18041 | 1264.27 | 97.86 |
| Pivot | 2089.42 | 4437.75 | 17984 | 1260.93 | 97.22 |
| Support 1 | 2077.83 | 4414.50 | 17890 | 1257.17 | 96.77 |
| Support 2 | 2071.42 | 4401.00 | 17833 | 1253.83 | 96.13 |
| Support 3 | 2059.83 | 4377.75 | 17739 | 1250.07 | 95.68 |
| Contract | Apr. Gold | May Silver | May Crude Oil | June Bonds | June Euro |
| Resistance 3 | 1207.0 | 17.32 | 50.31 | 167 15/32 | 1.1154 |
| Resistance 2 | 1200.7 | 17.18 | 49.43 | 166 16/32 | 1.1098 |
| Resistance 1 | 1197.2 | 17.08 | 48.42 | 165 30/32 | 1.1016 |
| Pivot | 1190.9 | 16.94 | 47.54 | 164 31/32 | 1.0960 |
| Support 1 | 1187.4 | 16.85 | 46.53 | 164 13/32 | 1.0878 |
| Support 2 | 1181.1 | 16.71 | 45.65 | 163 14/32 | 1.0822 |
| Support 3 | 1177.6 | 16.61 | 44.64 | 162 28/32 | 1.0740 |
| Contract | May Corn | May Wheat | May Beans | May SoyMeal | April Nat Gas |
| Resistance 3 | 399.0 | 523.8 | 990.67 | 333.20 | 2.89 |
| Resistance 2 | 396.3 | 523.7 | 986.58 | 330.50 | 2.85 |
| Resistance 1 | 394.8 | 523.6 | 984.17 | 328.40 | 2.82 |
| Pivot | 392.0 | 523.4 | 980.08 | 325.70 | 2.78 |
| Support 1 | 390.5 | 523.3 | 977.7 | 323.6 | 2.7 |
| Support 2 | 387.8 | 523.2 | 973.58 | 320.90 | 2.70 |
| Support 3 | 386.3 | 523.1 | 971.17 | 318.80 | 2.67 |
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 4:11pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| WedMar 25 | 5:00am | EUR | German Ifo Business Climate | 107.4 | 106.8 | ||||
| 6:30am | USD | FOMC Member Evans Speaks | |||||||
| 8:30am | USD | Core Durable Goods Orders m/m | 0.3% | 0.0% | |||||
| USD | Durable Goods Orders m/m | 0.5% | 2.8% | ||||||
| 10:30am | USD | Crude Oil Inventories | 3.8M | 9.6M |
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 judgment in trading.
