Futures Trading Levels and Economic Reports for April 25, 2013

Futures Trading Levels and Economic Reports for April 25, 2013

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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 April 24, 2013

Hello Traders,

For 2013 I would like to wish all of you discipline and patience in your trading! 

 

Day Trading Commodities with Crude Oil Futures

Crude Oil Futures volatility offers a “different market personality” than stock index futures. Here is some of the things you need to know about day trading crude oil futures:

Date: April 23, 2013


By: Ilan Levy-Mayer, Cannon Trading Commodities Broker & VP

 

Crude Oil is one of MY favorite futures market for day trading. Before I dive in and share with you how the volatility in crude oil fits my risk tolerance for day trading and provide a couple of chart examples, we should review some of the specifications of Crude Oil Futures

Crude Oil Futures have monthly expiration. So each month we trade a different contract month, so one needs to know when is the first notice day and last trading day for crude oil futures in order to always make sure we are trading the proper month with the most liquidity and avoid any chance of getting into delivery situation.

Next is the contract size. Crude Oil futures are based on 100,000 barrels. To be honest from a day trading perspective all I care is that each tick or 1 cent fluctuation is $10 against me or in my favor per contract. That means that a move from 92.94 to 92.74 = $200.

Another factor is trading hours. At the time I am sharing my thoughts with you, April 8th 2013, crude oil futures trade on the CME Globex platform and trade from 5 PM CDT until the next day at 4 PM CDT. That is 23 of straight trading hours. I definitely don’t recommend day trading this market 23 hours…but it is good to know the trading hours.

Volume in crude oil futures is pretty good to trade in my opinion. Averaging about 300,000 contracts per day.

One last pointer to touch on is the 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…Read Full Article.

 

 

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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

Contract June 2013  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell Dollar Index
Resistance 3 1587.50 2863.92 14754 943.73 83.61
Resistance 2 1583.25 2851.08 14724 937.97 83.47
Resistance 1 1579.25 2841.67 14673 934.73 83.25
Pivot 1575.00 2828.83 14643 928.97 83.11
Support 1 1571.00 2819.42 14592 925.73 82.89
Support 2 1566.75 2806.58 14562 919.97 82.75
Support 3 1562.75 2797.17 14511 916.73 82.53
Contract June Gold May Silver June Crude Oil June Bonds  June Euro
Resistance 3 1460.6 2386.5 94.85 149  6/32 1.3135
Resistance 2 1447.1 2359.5 93.26 148 24/32 1.3087
Resistance 1 1438.5 2334.5 92.40 148 15/32 1.3055
Pivot 1425.0 2307.5 90.81 148  1/32 1.3007
Support 1 1416.4 2282.5 89.95 147 24/32 1.2975
Support 2 1402.9 2255.5 88.36 147 10/32 1.2927
Support 3 1394.3 2230.5 87.50 147  1/32 1.2895
Contract July Corn July Wheat July Beans July SoyMeal July bean Oil
Resistance 3 622.6 694.0 1375.83 406.47 49.56
Resistance 2 620.9 693.0 1368.42 403.13 49.23
Resistance 1 619.6 692.5 1356.83 396.87 49.07
Pivot 617.9 691.5 1349.42 393.53 48.74
Support 1 616.6 691.0 1337.8 387.3 48.6
Support 2 614.9 690.0 1330.42 383.93 48.25
Support 3 613.6 689.5 1318.83 377.67 48.09
For complete contract specifications for the futures markets listed above click here!

5. Economic Reports

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

All times are Eastern time Zone (EST)

Date 3:51pm Currency Impact Detail Actual Forecast Previous Graph
ThuApr 25 All Day EUR Italian Bank Holiday
 3:00am EUR Spanish Unemployment Rate 26.5% 26.0%
8:30am USD Unemployment Claims 352K 352K
10:00am USD Treasury Sec Lew Speaks
10:30am USD Natural Gas Storage 33B 31B

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 herein 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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