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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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Dear Traders,

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Our own John Thorpe, on the big drop in the energy sector:
“Traders began focusing on defending the Bear Line in the sand at $61.20 per barrel,” John Thorpe, a commodity broker at Cannon Trading, told UPI.
“The EIA sees 2018 domestic crude production at 10.9 million barrels per day, up 1.5 percent from the October forecast. It also lifted its 2019 view on output by 2.6 percent to 12.06 million barrels a day,” he added, referring to a report issued Tuesday that was having an impact in the market.
“The expectations for lower prices yet further, increase the argument for crude entering into a bear market,” he said.
With prices seeing declines, there was speculation that producer nations may resort to production cuts. According to the OPEC website, the organization has its 175th ordinary meeting scheduled for Dec. 6 in Vienna.
Representatives of some nations will meet on November 12-15 on the framework of ADIPEC, the Abu Dhabi International Petroleum Exhibition and Conference
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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.

Futures Trading Levels

11-09-2018

 


Economic Reports, source: 

www.forexfactory.com

 

Date 4:01pm Currency Impact Detail Actual Forecast Previous Graph
FriNov 9  2:45am EUR
French Industrial Production m/m
-0.3% 0.3%
4:30am GBP
GDP m/m
0.1% 0.0%
GBP
Manufacturing Production m/m
0.1% -0.2%
GBP
Prelim GDP q/q
0.6% 0.4%
GBP
Prelim Business Investment q/q
0.2% -0.7%
GBP
Construction Output m/m
0.2% -0.7%
GBP
Goods Trade Balance
-11.4B -11.2B
GBP
Index of Services 3m/3m
0.5% 0.5%
GBP
Industrial Production m/m
-0.1% 0.2%
Tentative GBP
NIESR GDP Estimate
0.7%
8:30am USD
PPI m/m
0.2% 0.2%
USD
Core PPI m/m
0.2% 0.2%
9:00am USD
Final Wholesale Inventories m/m
0.3% 0.3%
9:05am USD
FOMC Member Quarles Speaks
10:00am USD
Prelim UoM Consumer Sentiment
98.0 98.6
USD
Prelim UoM Inflation Expectations
2.9%

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.

Posted in: Future Trading News  

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