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Crude Oil & Gold Futures Information & Economic Reports 6.11.2014

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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 June 11, 2014

Hello Traders,

For 2014 I would like to wish all of you discipline and patience in your trading!

 

Once again we are witnessing lower volume, lower volatility as stock indices are hanging around their all time highs….

I know that for me personally, this type of environment would be hard to day trade, hence the reason I am sharing with you a piece I wrote before about other markets to consider for day trading:

Crude Oil and Gold futures.

 

More than a few similarities between the two markets.

They are both volatile, can move VERY fast. I have seen some very large moves happen in matter of minutes if not seconds. The “fear & greed” factor really plays a role in these specific two markets.

Both have active trading hours starting with Far East trading around 10 PM est all the way to the next morning until about 3 PM est. Good volume generally speaking but not close to the mini SP or ten year notes. So you may see some slippage on stops but the volume is more than enough to trade size.

Each tick on gold is $10, so every dollar move =$100 against you or in your favor. Crude is similar, each tick = $10. One full $1 move = $1000.

Both markets were quiet today relatively speaking but even on a quiet day, the range on gold was $13 or = $1300 wide using one futures contract. Crude ranges today was  than $1.08 or about $1080 between hi/lo.

I like using overbought/ oversold indicators on the two markets as well as using range / Renko charts.

 

If you like the information we share? We would appreciate your positive reviews on our new yelp!!

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.

If you like Our Futures Trading Daily Support and Resistance Levels, Please share!

Futures Trading Levels

Contract June 2014  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell Dollar Index
Resistance 3 1960.75 3823.92 17023 1185.97 81.26
Resistance 2 1955.75 3813.08 16985 1180.13 81.07
Resistance 1 1953.00 3806.42 16964 1176.67 80.95
Pivot 1948.00 3795.58 16926 1170.83 80.76
Support 1 1945.25 3788.92 16905 1167.37 80.64
Support 2 1940.25 3778.08 16867 1161.53 80.45
Support 3 1937.50 3771.42 16846 1158.07 80.33
Contract August Gold July Silver July Crude Oil September Bonds  June Euro
Resistance 3 1280.0 1958.5 106.16 136 10/32 1.3655
Resistance 2 1271.9 1941.5 105.61 136 1.3628
Resistance 1 1266.3 1931.0 105.08 135 12/32 1.3587
Pivot 1258.2 1914.0 104.53 135  2/32 1.3560
Support 1 1252.6 1903.5 104.00 134 14/32 1.3519
Support 2 1244.5 1886.5 103.45 134  4/32 1.3492
Support 3 1238.9 1876.0 102.92 133 16/32 1.3451
Contract July Corn July Wheat July Beans July SoyMeal July bean Oil
Resistance 3 457.0 612.4 1480.67 501.67 39.41
Resistance 2 454.5 610.1 1476.83 496.83 39.30
Resistance 1 450.0 605.7 1469.67 490.67 39.12
Pivot 447.5 603.3 1465.83 485.83 39.01
Support 1 443.0 598.9 1458.7 479.7 38.8
Support 2 440.5 596.6 1454.83 474.83 38.72
Support 3 436.0 592.2 1447.67 468.67 38.54
5. Economic Reports

source:http://www.forexfactory.com/calendar.php

All times are Eastern time Zone (EST)

Date 3:53pm Currency Impact Detail Actual Forecast Previous Graph
WedJun 11 All Day ALL OPEC Meetings
 10:30am USD Crude Oil Inventories -1.3M -3.4M
1:01pm USD 10-y Bond Auction 2.61|2.6
2:00pm USD Federal Budget Balance -132.8B 106.9B

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.

Tags: > > Posted in: Crude Oil   | Future Trading News  

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