Energy Futures Archives - Support & Resistance Levels

Energy Futures

Category Archives: Energy Futures


Natural Gas Daily Chart + Futures Trading Levels for 02.22.24

February 21st, 2024 Filed under Charts & Indicators, Commodity Brokers, Commodity Trading, Day Trading, Energy Futures, Future Trading News, Futures Trading, Natural Gas | Comment (0)

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We have a FULL day tomorrow with several reports, FED members talking and more….

Natural Gas bounced sharply on news that Chesapeake cuts production outlook

Cocoa continues it’s run into unknown territories….up over 4% today!

Natural Gas Daily Chart for review below:

 

 

 

 

Daily Levels for February 22nd, 2024

Economic Reports
provided by: ForexFactory.com
All times are Eastern Time ( New York)

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* 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.


Gold Outlook, Crude Oil & Nat Gas Numbers Tomorrow! +Futures Trading Levels for 01.18.24

January 17th, 2024 Filed under Commodity Brokers, Commodity Trading, Crude Oil, Day Trading, Energy Futures, Future Trading News, Futures Broker, Futures Trading, futures trading education, Natural Gas | Comment (0)

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Talking Gold Futures

By Mark O’Brien, Senior Broker

A six-month decline followed by a two-month rally of almost equal price movement. On April 4, Feb gold traded to its all time high of $2,140.30 per ounce. Almost six months to the day, on Oct. 6, the benchmark precious metal had declined ±$300 per ounce (a ±$30,000 move) to $1,842.50. Then, within almost an exact two-month span, on the Sunday Dec. 4th opening of trading, Feb. gold capped a ±$300 per ounce rally, trading briefly up to a new all-time high of $2,152.50. Today, gold prices fell to a more than one-month low, trading intra-day to $2,004.60 per ounce. Credit strong economic data that strengthened dollar and Treasury yields and lowered market expectations of a U.S. rate cut in March. The Commerce Department reported a more-than-expected rise in U.S. retail sales for December. This followed the strong gains in employment and wage gains reported earlier this month and an uptick in inflation last week.

 

The U.S. Consumer Price Index last week did not persuasively indicate under-control inflation,

but with energy and grain prices remaining significantly below last year’s highs, the prevailing

direction of inflation points down with economic conditions improving.

Heads up: Both Natural Gas and Crude Oil numbers come out tomorrow due to MLK holiday this past Monday and the short trading week.

 

 

 

 

 

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 when it comes to Futures Trading.

Futures Trading Levels

01-18-2024

 

#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG

#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG

 

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Economic Reports,

Source: 

Forexfactory.com

 

 

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.


Video on Projecting Levels, Christmas Modified Trading Schedule + Levels for 12.20.23

December 19th, 2023 Filed under Charts & Indicators, Commodity Brokers, Commodity Trading, Crude Oil, Day Trading, Energy Futures, Future Trading News, Index Futures, Indices | Comment (0)

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March is front month for stock indices and currency futures.

Symbol for March is H, so example ESH24

February is front month for crude oil.

Christmas Modified trading schedule below.

 

Video: Projecting possible targets when trading futures

 

Projecting possible targets when trading futures

 

 

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 when it comes to Futures Trading.

Futures Trading Levels

 

12-20-2023

#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG

#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG

Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker
 1-800-454-9572 Explore trading methods. Register Here


Economic Reports,

Source: 

Forexfactory.com

 

 

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.


Get Trade Alerts + Futures Trading Levels for Dec. 7th

December 6th, 2023 Filed under Commodity Brokers, Commodity Trading, Crude Oil, Day Trading, Energy Futures, Future Trading News, Futures Broker, Futures Exchange, Futures Trading, Trading Guide | Comment (0)

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Bullet Points, Highlights, Announcements

By Mark O’Brien, Senior Broker

 

General: 

 

It seems like no futures markets are more focused on trading off expectations than those of interest rate futures, like the 10-year T-note and 30-year T-bond.  And those expectations are more focused on one source of information more than any other: the words and actions of the U.S. Federal Reserve Bank’s governors and current chairman, Jerome Powell.  The Fed. board’s governors’ words are incessantly parsed for any clues as to the future direction of interest rate policy.  Each coming Federal Open Market Committee meeting becomes the latest most important meeting in memory and next week’s is no exception.  The U.S. economy is slowing; there are signs inflation is falling and the Fed has kept interest rates steady – at a range of 5.25% to 5.50%, the highest since 2001 – through its last two meetings after raising rates at the conclusion of eleven consecutive meetings before that.  If “three is a trend,” and if the Fed. holds interest rates steady (widely forecast) look for the futures markets to pile on to the already-shifting expectation that a rate cut is coming sooner than later.  As is customary, Chair Powell will likely try to communicate that the Central Bank’s job of controlling inflation is ongoing and any decision on the future of interest rates – up, down, or steady – will be based on broad definitive proof of the need to act, or not.  Next week’s meeting is a 2-day affair, with the announcement scheduled for Wednesday at 1:00 P.M. Central Time, followed by Chair Powell’s press conference.  Stay tuned.

 

Energy: 

 

 

Already entering today’s trading on a 4-day losing streak, crude oil futures extended its sell-off which as of this typing broke through $70.00 per barrel to an intra-day low of $69.11, its lowest price since July 3 (basis the January contract).

 

While today’s weekly Energy Information Administration report showed crude inventories fell by 4.6 million barrels, far exceeding the 1.4 million-barrel drop analysts had expected, U.S. gasoline stocks rose by 5.4 million barrels last week, more than five times the 1 million-barrel rise analysts expected.

 

News concerning “the elephant in the room” – China’s economic health – also pressed down on prices.  Yesterday, rating agency Moody’s lowered the outlook on China’s A1 rating from stable to negative.

 

Getting help from the currency market, the U.S. dollar stayed on its upward rebound from 3+ month lows of last week to a two-week high.  For all things dollar denominated – particularly globally traded commodities – a rising dollar pressures demand by making purchases more expensive for holders of other currencies.

 

Plan your trade and trade your plan.

 

 

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 when it comes to Futures Trading.

Futures Trading Levels

12-07-2023

#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG

#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG

Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker
 1-800-454-9572 Explore trading methods. Register Here


Economic Reports,

Source: 

Forexfactory.com

 

 

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.


The Day After FOMC + Futures Trading Levels for Nov. 2nd

November 1st, 2023 Filed under Commodity Brokers, Commodity Trading, Crude Oil, Day Trading, Energy Futures, Future Trading News, Futures Broker, Futures Exchange, Futures Trading, Trading Guide | Comment (0)

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The Day After?

By Senior Broker, Mark O’Brien

 

General: 

 

Prior to this blog’s release, the Federal Reserve Bank’s Open Market Committee held rates steady at 5.25% – 5.50% for the second consecutive meeting, yet another indication that the global central bank rate hike cycle is coming to an end.  At the same time, Fed. chair Powell stayed on message by suggesting more rate hikes could be in the pipeline should inflation remain “sticky.”

 

Keep in mind that a favorite inflation gauge of the Fed is the quarterly Core Personal Consumption Expenditures Index (Core PCE), which last Friday recorded its eighth monthly decline in a row – down to a 3.68% YOY increase and the lowest reading since May 2021.

 

Energy:

 

If there was a fear / anticipation that the crisis in the Middle East would lead to extended physical supply disruptions for the energy markets, that fear – and crude oil prices – has abated in the last week or so.  After its initial ±$2.00 per barrel gap-up opening to ±$83.25 per barrel the Sunday after the outbreak of hostilities, Dec. crude oil spent two weeks reaching up to $89.85 intraday on Friday the 20th.  As of this typing, it’s trading over $9.00 per barrel lower near $80.00 per barrel, below pre-hostility prices.  Certainly without notice, the war could escalate.  Expansion militarily between the current parties involved, or in concert with expanded state or non-state participation including the United States, Iran, Syria, Hezbollah could inject a “war premium” into energy prices and extend to other commodities.

 

Risk: 

 

The point here is not to opine that this is the direction the conflict will go.  There are a range of possible scenarios for the Israel-Gaza conflict, from an expansion to a broader regional war to a negotiated cessation of hostilities.  There are parties and catalysts capable of steering the situation in either direction.

 

The idea is to caution traders of the potential for increased volatility and to suggest you approach your futures trading generally with risk-defined strategies, such as hard stop orders, option protection, hedge positions & futures and options spread applications.

Plan your trade and trade your plan.

 

 

 

 

 

 

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 when it comes to Futures Trading.

Futures Trading Levels

11-02-2023

 

#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG

#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG

Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker
 1-800-454-9572 Explore trading methods. Register Here


Economic Reports, Source: 

Forexfactory.com

 

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.

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