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Heikin-Ashi Day Crude Oil Chart 5.12.2016

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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 Thursday May 12, 2016

Hello Traders,

For 2016 I would like to wish all of you discipline and patience in your trading!

Voted #1 futures trading blog!

Greetings! 

Wow! The volatility we had this morning across several markets because of the crude oil inventory report. Seems like crude is moving many of the other markets, so even if you are not trading energies, i recommend knowing what is going on with Crude Oil Futures and studying if there is a recent correlation between crude oil and the markets you trade.

Daily Crude oil Chart for your review ( looks like if we can break 46.80, 49 may be the next level to watch):Heikin-Ashi Day Crude Oil Chart

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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Futures Trading Levels  

Contract June 2016 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 2092.25 4436.00 17985 1136.50 94.71
Resistance 2 2085.50 4419.50 17918 1131.50 94.46
Resistance 1 2073.25 4388.75 17797 1122.10 94.14
Pivot 2066.50 4372.25 17730 1117.10 93.90
Support 1 2054.25 4341.50 17609 1107.70 93.58
Support 2 2047.50 4325.00 17542 1102.70 93.33
Support 3 2035.25 4294.25 17421 1093.30 93.01
Contract June Gold July Silver June Crude Oil June Bonds June   Euro
Resistance 3 1299.2 18.15 49.37 168 4/32 1.1545
Resistance 2 1290.0 17.88 47.86 167 13/32 1.1501
Resistance 1 1284.7 17.65 46.97 166 26/32 1.1467
Pivot 1275.5 17.39 45.46 166 3/32 1.1423
Support 1 1270.2 17.16 44.57 165 16/32 1.1389
Support 2 1261.0 16.89 43.06 164 25/32 1.1345
Support 3 1255.7 16.66 42.17 164 6/32 1.1311
Contract July Corn July Wheat July Beans July SoyMeal June Nat Gas
Resistance 3 386.3 467.0 1098.58 376.60 2.26
Resistance 2 383.7 464.5 1092.42 372.00 2.22
Resistance 1 380.6 461.8 1085.33 367.00 2.19
Pivot 377.9 459.3 1079.17 362.40 2.15
Support 1 374.8 456.5 1072.1 357.4 2.1
Support 2 372.2 454.0 1065.92 352.80 2.09
Support 3 369.1 451.3 1058.83 347.80 2.06

Economic Reports

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

All times are Eastern time Zone (EST)

Date 3:58pm Currency Impact Detail Actual Forecast Previous Graph
ThuMay 12 2:00am EUR German WPI m/m 0.2% 0.3%
2:45am EUR French Final CPI m/m 0.1% 0.1%
5:00am EUR Industrial Production m/m 0.1% -0.8%
7:00am GBP BOE Inflation Report
GBP MPC Official Bank Rate Votes 0-0-9 0-0-9
GBP Monetary Policy Summary
GBP Official Bank Rate 0.50% 0.50%
GBP Asset Purchase Facility 375B 375B
GBP MPC Asset Purchase Facility Votes 0-0-9 0-0-9
7:45am GBP BOE Gov Carney Speaks
8:30am USD Unemployment Claims 277K 274K
USD Import Prices m/m 0.6% 0.2%
10:30am USD Natural Gas Storage 60B 68B
11:45am USD FOMC Member Rosengren Speaks
1:01pm USD 30-y Bond Auction 2.60|2.4
1:30pm USD FOMC Member George Speaks
Tentative GBP MPC Member Haldane Speaks

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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