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.

Quick Links: Commissions | Day Margins | Contact Us
Open An Account
Free Demo Account Subscribe Here

Weekly Newsletter #1093 Valuable Trading Resources & Trading Levels for the Week Ahead

Posted on by Ilan

Cannon Futures Weekly Newsletter Issue # 1093

Dear Traders,

Like us on FaceBook!
Get Real Time updates and market alerts on Twitter!

Valuable Tools & Resources for Traders:

  •  Would you like to get access to daily research? Access info on what is moving the markets both technically and fundamentally? FREE TRIAL
  • Would you like a FREE CONSULTATION? Set up a time to talk with an experienced broker on variety of topics such as trading methods, indicators, concepts, questions on options/spreads/platforms and much more!
  • Are you looking for Trading insights/ techniques? Watch a series of short videos on using Bollinger bands, Range bar charts and more!
  • Thinking about day trading futures? Read the 8 steps for better day trading
  • Looking to lower your commissions? Try our Match or Beat tool

Custom DOM Layout - E-Futures International

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 when it comes to Futures Trading.

Futures Trading Levels

04-11-2022

Support and Resistance Levels 4.11.2022

Weekly Levels

Support and Resistance Levels 4.11.2022 - 4.16.2022

Reports, First Notice (FN), Last trading (LT) Days for the Week:

https://mrci.com

Date Reports/Expiration Notice Dates
48206ed6 0bec 44e9 a5ea 3feceedaff2b

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

SP500 “Buy Program” & Support and Resistance Levels 4.08.2022

Posted on by Ilan
Get Real Time updates and more on our private FB group!
Updates:
  • CME has launched Aluminum futures! more info available here, contact us if you would like to trade Aluminum futures.
  • Would you like to get access to daily research? Access info on what is moving the markets both technically and fundamentally? FREE TRIAL
  • Would you like a FREE CONSULTATION? Set up a time to talk with an experienced broker on variety of topics such as trading methods, indicators, concepts, questions on options/spreads/platforms and much more!
Stock Index futures were significantly lower today but bounced sharply off support levels, news sources cited “buy program” – I mentioned this to a client who asked me what the hell does it mean….
My speculation is that large institution had a “resting order” to buy at that levels, perhaps GTC order , perhaps new order but that was able to absorb all selling pressure and then price went higher, triggered more short covering, fueled intraday buying and helped an impressive intraday reversal.
Two big questions I have:
Am I correct?
What’s next?
My daily chart with some possible levels for what’s next below.
My speculation is as long as we can hold today’s lows, higher prices are path of least resistance.
Break below and it is a different ball game…..
I asked my colleague, John Thorpe for his feedback:
Why the buy programs? an over simplification is where we have been.. take a look at that low we got the bounce from.. and April 6th back in collegiate statistics 101 one of the first things we learn are the differences and applications of the Mean, the median and the mode… using the 4450 area this number satisfies the definition of the median and the mode if we begin taking our data points from the beginning of Q1 2021 for at least the last 6 months 4450 is the midpoint. it’s not that hard see why that is a critical area for the current market and potentially why, when the market got down to that level, Buy programs engaged. this is not to say this is a Fed put. what it does align with are the similarities between where the market was back on august , 31st 2021 and on the open 2 11 22. remember when the ES tested 4200 six times and successfully rallied? a close greater than 4500.00 is the goal and could be the springboard to a significantly higher move and, it may be possible there is a seasonal component too. all markets like to test and retest areas where they have been before. this is no different.
Emini ES daily Chart
Sierra Charts, Teton Order Routing
Contact us for a demo and/ or more information here!

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

04-08-2022

Futures Support and Resistance Levels 4.08.2022

 

 

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

Forex Factory 4.08.2022

 

 

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.

Corn, Wheat Updates & Support and Resistance Levels 4.07.2022

Posted on by Ilan
Get Real Time updates and more on our private FB group!

More Grain & Soy Product Volatility: Corn & Wheat Focus:

by Mark O’Brien
December corn posted its fourth consecutive new contract high yesterday, likely still finding support from last week’s smaller-than-expected planted acreage number in the year’s USDA Prospective Planting report. For both corn and wheat, the war in Ukraine has traders worried about global grain supply, given Ukraine’s significant contribution to both. China’s wheat crop has been described as a “potential disaster,” by the Hightower Report’s Stephen Maass and he’s not alone in his assessment of the country’s crop conditions, due to last fall’s record-breaking rain and flooding and subsequent planting delays. Additionally, record fertilizer prices may cause producers to use less, affecting this crop year’s yield. Phrases like ‘food inflation’ and ‘food scarcity’ are finding their way into commentary on future prices for a range of base commodities like grains, softs (orange juice, sugar, coffee) and other “off exchange” staples.
This all sounds like the stage is set for price increases rarely seen for some commodities, particularly grains, but caveats abound. We’re way too early in the U.S. crop year to foresee how things will play out at harvest. Weather – anywhere in the world – is a fickle element and grain futures prices can seesaw at the slightest hint of change. We’ve already seen commodity prices react – or over react – to even hints of cessations of the war in Ukraine: peace talks, cease fires and the like. This should continue to be the expectation for price moves reacting to more of the same.
Updates:
  • CME has launched Aluminum futures! more info available here, contact us if you would like to trade Aluminum futures.
  • Would you like to get access to daily research? Access info on what is moving the markets both technically and fundamentally? FREE TRIAL
  • Would you like a FREE CONSULTATION? Set up a time to talk with an experienced broker on variety of topics such as trading methods, indicators, concepts, questions on options/spreads/platforms and much more!
Sierra Charts, Teton Order Routing
Contact us for a demo and/ or more information here!

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

04-07-2022

061ea70d 18d9 4d06 a36f a3011eae4008

 

 

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

3dfa4530 519e 48f1 856e 0c8f67067494

 

 

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.

Copper Pushing Higher? & Support and Resistance Trading Levels 4.06.2022

Posted on by Ilan
Get Real Time updates and more on our private FB group!
Tomorrow we have crude oil numbers followed by FOMC minutes.
Both stocks and energies were significantly lower in today’s trading.
Curious on learning more on the different economic reports and what they mean for the markets you trade? CLICK HERE

Moving Markets

May Copper tried pushing higher today but met heavy selling pressure around 4.86 levels.
Does the market have enough strength to test the 5.00 mark again? Or will it visit 4.64 first?
Click chart for LARGER IMAGE
Copper Futures Daily Chart
Sierra Charts, Teton Order Routing
Contact us for a demo and/ or more information here!

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

04-06-2022

Futures Support and Resistance Levels 4.06.2022

 

 

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

a07959b8 9a4f 46a6 9691 228ab808a06e

 

 

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.

SPR Explained & Cattle Outlook & Support and Resistance Levels for 4.05.2022

Posted on by Ilan
Get Real Time updates and more on our private FB group!

Let’s Talk SPR

by John Thorpe, Senior Broker
Where is the SPR and how much Sweet Crude do we have? Energy futures contracts have taken our breath away and our bank accounts over the past month. Volatility is directly correlated to levels of uncertainty. A more certain supply and demand futures tend to reduce Volatility greatly. Higher price volatility has historically been linked to greater supply and demand instability. The Crude oil futures market has seen extraordinary volatility over the last month and for a variety of reasons. One recent reason for the downdraft in Crude oil futures prices has been the proclamation from the Biden administration that oil will be released from the SPR (Strategic Petroleum Reserve). I have read a number of articles from a number of well respected national news outlets and they all provide a little different information about the size of the reserves and the amount of the limits to daily withdrawals.. You too may have come across some of the confusion. The U.S. Office of Fossil Energy and Carbon Management is our entity in charge of the SPR, a branch of the U.S. Department of Energy and they are responsible for the 4 underground storage locations and recordkeeping. Crude oil traders keeping score some of the rules of the game of the SPR should know, there are limits to daily withdrawals and the holdings are actually quite a mix of sweet crude and sour, all with different industrial uses.
Drawdown Capability
  • Maximum nominal drawdown capability – 4.4 million barrels per day
  • Time for oil to enter U.S. market – 13 days from Presidential decision

Moving Markets

June Live Cattle started a move down but met buying support at 133.875.
Bearish technical signal on the daily chart.
Can the market break support?
Click chart for LARGER IMAGE
Daily Live Cattle Futures Chart
If you are looking for other reference material please contact your Cannon Broker for lists of solid, informative and helpful trading tomes
Sierra Charts, Teton Order Routing
Contact us for a demo and/ or more information here!

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

04-05-2022

Futures Support and Resistance Levels 4.05.2022

 

 

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: 

http://BetterTrader.Co

838927dd 0804 4aff b710 11f56bd640c4

 

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.

Weekly Newsletter #1092 Get An Edge Real-Time Breaking News & Support and Resistance Levels for the Week Ahead

Posted on by Ilan

Cannon Futures Weekly Newsletter Issue # 1092

Dear Traders,

Like us on FaceBook!
Get Real Time updates and market alerts on Twitter!

Get An Edge With Real-Time Breaking News and Analysis

The world is currently experiencing global inflation, a war involving a nuclear superpower and consequently, real concerns about food and energy security for countries and entire regions around the world. The magnitude of these events and the almost around-the-clock news related to them has caused an excitability in commodity futures prices not seen in decades.
Can you benefit from AUDIO/TEXT breaking news service?
TradeTheNews.com (TTN)
The First to provide audio news squawks in 1998.
Entering second decade of market moving analysis.
*In-Depth Coverage
*Professional analysts broadcasting 24 hrs
for American, European and Asian markets
*Diverse Platform Offerings
Audio, text headlines, calendars (listen to a sample here!)
and ability to ask questions to analysts live through platform.

Custom DOM Layout - E-Futures International

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 when it comes to Futures Trading.

Futures Trading Levels

04-04-2022

e0cdcfbf ddbc 49db b321 891992c76152

Weekly Levels

ab93c124 e85f 4254 b119 03d0157516b2

Reports, First Notice (FN), Last trading (LT) Days for the Week:

https://mrci.com

Date Reports/Expiration Notice Dates
MRCI Reports

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

NFP/ Unemployment tomorrow & Support and Resistance Levels 4.01.2022

Posted on by Ilan
Get Real Time updates and more on our private FB group!
As we approach tomorrow’s NFP ( non farm payroll) or as many refer to, “unemployment report” – major market moving event, we wanted to share this valuable resource:
05195997 2ca5 4fd9 925b 762c6863d343
If you are looking for other reference material please contact your Cannon Broker for lists of solid, informative and helpful trading tomes
Sierra Charts, Teton Order Routing
Contact us for a demo and/ or more information here!

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

04-01-2022

 

Support & Resistance Levels 4.01.2022

 

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: 

http://BetterTrader.Co

d0da88c5 def5 4e40 b087 f50b7cf4b6fd

 

 

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.

What to Watch for as we close Q1 2022 & Futures Support and Resistance Levels 3.31.2022

Posted on by Ilan
Get Real Time updates and more on our private FB group!

Coming Up As We Close Q1 2022

By Mark O’Brien
If the war in Ukraine wasn’t disruptive enough for commodity prices, keep an eye out for a few noteworthy potential market movers stacked up over these next two days.
Tomorrow the U.S. Dept. of Agriculture will release its annual Prospective Plantings report. The report establishes acreage estimates for principal crops and leading commodities including corn, wheat, soybeans, oats and cotton for the upcoming crop year. The report is serves as a record of the planting intentions of the nation’s farmers. Acreage estimates are based on surveys conducted during the first two weeks of March. This year the survey reached 78,900 farm operators in 48 states.
Tomorrow is also the date for the 27th OPEC and non-OPEC Ministerial Meeting. Members meet at this event to determine the output levels for production beginning in May. OPEC+, an expanded group that includes non-OPEC members like Russia and Mexico, has immense power because its members control more than 40% of global oil production.
U.S. private employment payrolls rose by 455,000 in March, according to this morning’s ADP National Employment Report. Up next, on Friday the Bureau of Labor Statistics will publish its official nonfarm payroll report. This is one of the most important monthly economic data points on the calendar. It’s intended to represent the total number of paid workers in the U.S., minus farm employees, government employees, private household employees and employees of nonprofit organizations. Economists – polled by The Wall Street Journal – forecasted a gain of 450,000 private sector jobs in March.
https://www.cannontrading.com/services/FreeVideos
If you are looking for other reference material please contact your Cannon Broker for lists of solid, informative and helpful trading tomes
Sierra Charts, Teton Order Routing
Contact us for a demo and/ or more information here!

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

03-31-2022

 

Futures Support and Resistance Levels 3.31.2022

 

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: 

http://BetterTrader.Co

Better Trader Economic Reports 3.31.2022

 

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.

Trading Videos 101 & Support and Resistance Levels 3.30.2022

Posted on by Ilan
Get Real Time updates and more on our private FB group!

Trading Videos 101: Curious on an indicator that can help you with EXITS?

How about using a certain indicator as a trailing stop?
Watch the latest trading videos we have posted and see if you can pick a tip or two on trading smarter!
In this blog entry today we are sharing four videos, each a few minutes long. The videos discuss practical tips for trading and sharing our experience with you
2. One way you can use the Parabolics study ( also known as PSAR) to manage current positions, possibly as a trailing stop
4. Entering trades on a stop, using “price confirmation”.
5. Utilizing Range Bar charts for shorter term trading as a way to try and filter out some noise.
https://www.cannontrading.com/services/FreeVideos
If you are looking for other reference material please contact your Cannon Broker for lists of solid, informative and helpful trading tomes
Sierra Charts, Teton Order Routing
Contact us for a demo and/ or more information here!

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

03-30-2022

c5807662 6f1e 44de 9d97 af86997dc3ea

 

 

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: 

http://BetterTrader.Co

98670b8d 2095 40e8 bb68 1f867f115f11

 

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.

Trading Futures in an IRA Account & Futures Support and Resistance Levels 3.29.2022

Posted on by Ilan
Get Real Time updates and more on our private FB group!

Have you considered a Futures IRA?

Mark your Calendars for April 15th. TAX day is coming, there is still time to make a 2021 contribution ! Did you know you can trade futures , futures options and derivatives in a retirement account? . We, at Cannon Trading can accommodate a wide array of retirement plan accounts through Plan administrators www.cannontrading.com has working relationships with. Investing in futures allows individuals to diversify their retirement accounts . While investing in futures carries greater risks, it provides investors greater flexibility and unique strategies beyond stocks, bonds, ETF’s and mutual funds. Investing through your self directed IRA can be tax advantaged as trading profits can be tax deferred or tax free is in a ROTH IRA. We also support many IRA Rollover accounts for clients. Futures generally have a low correlation to stock and bond prices. This is not a recommendation to buy or sell a security however, simply informing our clients that trading futures through your retirement account may be a prudent option for you as you look for diversification opportunities.. Please reach out to us with any questions about opening or transferring an existing IRA to trade Futures with CannonTrading. here is a link to IRS Guidelines for working with IRA’s. IRA Year- End Reminders | Internal Revenue Service (irs.gov)
https://www.cannontrading.com/services/FreeVideos
If you are looking for other reference material please contact your Cannon Broker for lists of solid, informative and helpful trading tomes
Sierra Charts, Teton Order Routing
Contact us for a demo and/ or more information here!

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

03-28-2022

Futures Support and Resistance Levels 3.29.2022

 

 

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: 

http://BetterTrader.Co

e837be04 64d6 4b6d 8112 ea497d9ddb9f

 

 

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.

RISK DISCLOSURE: Past results are not necessarily indicative of future results. The risk of loss in futures trading can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition.