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Futures Trading Levels, Market Consolidation and Crude Oil Inventories

Cannon Trading / E-Futures.com

Yesterday I wrote:

“If we break todays low of 1310.75, I will favor a move down to 1290. On the other hand if we can hold this level, we may see a bounce to 1326”.

Well…..we had an inside day trading within the range of the previous day, that means market took a bit to consolidate before deciding on the next leg. The Million $$ question is which way…..so far we have been making lower lows and lower highs over the past couple of weeks

Daily chart of Mini SP 500 along with some levels to be aware of, for your review below:

GOOD TRADING!

Daily mini S&P trading chart screenshot from today May 24th 2011

Stock futures trading chart levels for Wednesday May 25th 2011

TRADING LEVELS!

Commodity Futures trading levels for May 25th, 2011

Economic Reports Wednesday May 25th, 2011

FOMC Member Plosser Speaks
3:30am USD

Core Durable Goods Orders m/m
8:30am USD

Durable Goods Orders m/m
8:30am USD

OFHEO HPI m/m
10:00am USD

Crude Oil Inventories
10:30am USD

FOMC Member Kocherlakota Speaks
1:30pm USD

Treasury Currency Report
Tentative USD

Economics Report Source: http://www.forexfactory.com/calendar.php

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   | Futures Trading  

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