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.

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Weekly Newsletter1071: Options on Futures In Depth Information + Levels for the Trading Week Ahead 10.18.2021

Posted on by Ilan

Cannon Futures Weekly Letter Issue # 1071

Dear Traders,

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Get Real Time updates and market alerts on Twitter!

 

Trading 102: Options on Futures In Depth Information

( Note: When volatility is SO HIGH, options can provide additional ways for possible hedging and alternative speculation – our brokers will be happy to assist)

A comprehensive resource for information on options on futures

In this section you will read and learn about the following:

*Options Basics

*Options Strategies for Bullish set ups

*Options Strategies for Bearish set ups

*Options Strategies for Neutral set ups

*Selling Options Premium – an overview

And much more!
Sign up below and INSTANTLY get access to the online tutorial

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

10-18.2021

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Weekly Levels

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

https://mrci.com

Date Reports/Expiration Notice Dates

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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

Most Common Pitfalls To Avoid When Trading Futures & Support and Resistance Levels 10.15.2021

Posted on by Ilan

Dear Traders,

Get Real Time updates and more on our private FB group!
🙂

Most Common Pitfalls To Avoid When Trading Futures-Commodity Futures

500 experienced futures brokers were asked what caused most futures traders to lose money when comes to trading futures.
Their answers reflected the trading experience of more than 10,000 futures traders.  Download the PDF and find out what they said.
1) Have A Plan
Many futures traders trade without a plan. They do not define specific risk and profit objectives before trading. Even if they establish a plan, they “second guess” it and don’t stick to it, particularly if the trade is a loss. Consequently, they overtrade and use their equity to the limit (are undercapitalized), which puts them in a squeeze and forces them to liquidate positions. Usually, they liquidate the good trades and keep the bad ones.
2) News Factor
Many traders don’t realize the news they hear and read has, in many cases, already been discounted by the market.
3) Trade Objectively
After several profitable trades, many speculators become wild and non conservative. They base their trades on hunches and long shots, rather than sound fundamental and technical reasoning, or put their money into one deal that “can’t fail.”
4) Know Your Size
Traders often try to carry too big a position with too little capital and trade too frequently for the size of the account.

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

10-15-2020

Futures Support and Resistance Levels 10-14-2021

 


Economic Reports, source: 

https://bettertrader.co/ 

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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.

Futures Trading Insight & Support and Resistance Levels 10.14.2021

Posted on by Ilan

Dear Traders,

Get Real Time updates and more on our private FB group!
🙂
No commentary today but feel free to join our private FB group and gain access to daily, morning insight into the markets for the day ahead with commentary such as below which our members had access to hours before the open:
10.13.21 Wednesday insight:
XX = STOP
SCO = STOP CLOSE ONLY
MA= MOVING AVERAGE
FIBO’S = Fibonacci Retracements
Z S&P JUST FINISHED A 4TH WAVE UP
3 DAYS AGO @ 4421.50 ON V 07th
A CLOSE BELOW THE 3rd WAVE @ 4260.00
FROM V 01st TRIGGERS THE 5th WAVE
DOWN TO 4080.00
X CRUDE
UPSIDE OBJECTIVE $85.00
GOOD MORNING.
10.13.21 Wednesday
CPI 7:30
Real Earnings 7:30
API Energy Stocks 3:30
Z S&P
4250.00 OBJECTIVE UNTIL
A CLOSE ABOVE 4387.25
4348.50 CRITICAL MA
RESISTANCE
50% FIBO 4343.75
Z NASDAQ
14,450 OBJECTIVE UNTIL
A CLOSE ABOVE 14,753.25
14,753.25
CRITICAL MA
KEY RESISTANCE
Z US$
7th DAY IN A ROW!
LOW YESTERDAY 94.235 *
ALGO’S SUPPORT 94.25*
ALGO IS LONG
BEARISH FOR S&P’S
Z US$ CLOSED @ 94.519 +0.193
ALGO SUPPORT:
94.35 *
94.26 Sell SCO
94.15
Z S&P:
BEAR BIAS.
4373.25 KEY RESISTANCE
U 03rd HIGH 4539.50
K 13th LOW 4028.25
FIBO’S:
38.2% = 4343.75
50.0% = 4283.50 / 4th DAY
61.8% = 4223.25
4373 25
KEY MA
MAJOR SWING AREA!
KEY RESISTANCE
4421.75
KEY TRANSITIONING MA
MASSIVE RESISTANCE
4387.00
MASSIVE MA
KEY RESISTANCE
4348.50
CRITICAL MA
MASSIVE SUPPORT
4157.50
LAST MA SUPPORT / MUST HOLD!
ALGO IS NEUTRAL
ALGO RESISTANCE:
4466.50
4439.25 Buy SCO
4416.00
Z S&P Closed 4340.75 -10.25
ALGO SUPPORT:
4339.00
4321.25 Sell SCO
4300.50 / Selling pressure
Z NASDAQ:
U 07th HIGH 15,702.25
K 13th LOW 12,915.00
FIBO’S:
38.2% = 14,637.75
50.0% = 14,309.75 ***
61.8% = 13,981.75
14,939.75
KEY MA
15,159.25
KEY TRANSITIONING MA
KEY RESISTANCE
14,988.25
MASSIVE MA
KEY RESISTANCE
14,753.50
CRITICAL MA
KEY RESISTANCE
LAST MA SUPPORT
14,033.50
ALGO IS SHORT
ALGO RESISTANCE:
15,736.50
15,685.75 Buy SCO
Z NASDAQ
Closed 14,653.25 -47.25
ALGO SUPPORT:
14,630.75 / Selling PRESSURE
X CRUDE:
ALGO IS LONG
X CRUDE Closed $80.64 +0.12
ALGO SUPPORT:
78.82
78.36 Sell SCO **
77.85
75.52
KEY MA
KEY SUPPORT
71.74
KEY TRANSITIONING MA
70.70
MASSIVE MA
70.00
CRITICAL MA
63.66
LAST MA SUPPORT / MUST HOLD!
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.

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

10-14-2020

 

Futures Support and Resistance Levels 10.13.2021


Economic Reports, source: 

https://bettertrader.co/ 

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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.

Free Course – An Introduction to Crude Oil & Support and Resistance Levels 10.13.2021

Posted on by Ilan

Dear Traders,

Get Real Time updates and more on our private FB group!
🙂

Trading 101: Free Course – An Introduction to Crude Oil

Today’s energy crude oil market is truly global. From West Texas Intermediate (WTI) to Brent and DME Oman, the crude oil market fuels many of the world’s leading economies and impact nearly every nation. Energy crude oil futures and options provide the tools the industry needs to manage risk. Explore the key concepts and structure of today’s energy markets, including the factors that affect supply and demand and move prices. Learn how to use these instruments to hedge exposure and unlock opportunities
  • WTI Overview
  • Understanding Crude Oil in the USA
  • Importance of Cushing, Oklahoma
  • Understanding European Crude Oil
  • Understanding Crude Oil Across Asian Region
  • And Much More!

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

10-13-2020

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Economic Reports, source: 

https://bettertrader.co/ 

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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.

VIX Volatility futures Index & Support and Resistance Levels 10.12.2021

Posted on by Ilan

Dear Traders,

Get Real Time updates and more on our private FB group!
🙂

Correlational Observations of Indices Market Behavior.

VIX Volatility futures Index.

By John Thorpe, Senior Broker
VIX futures expiration is a monthly occurrence. The expiration is somewhat varied, the remaining 2021 schedule is included below, typically, middle of the month on Wednesday mornings. Take a look at your daily chart for any of the indices and you see the sell offs during the week of or the week prior to VIX
 expiration days.
My belief is there would be a smaller probability of a correlational relationship during a Bear stock market, However, Since we are in the 12th year of a bull market, I believe the underling price action is created by portfolio managers rolling their hedges and adjusting their risk for the coming month. They often use the week prior to Short the VIX at higher prices (lower equity index prices) for the first week of the new VIX contract month as they are buying back their old contract shorts pushing the VIX prices higher, thereby pushing negative sentiment into the marketplace. If there are more extreme price movements in their favor, they will elect to have the hedges expire to cash as the contracts are financially settled.
Coincidentally, September VIX expired Wednesday morning September 15th at 8:00 a.m. CDT and the October VIX expires in 10 days.
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You can trade both the VIX and Equity index futures with multiple leverage options, Reach out to your Cannon Trading representative for more details.
Here is a VIX contract description from the CBOE “
The CBOE Volatility Index – more commonly referred to as the “VIX Index” – is an up-to-the-minute market estimate of expected volatility that is calculated by using real-time prices of options on the S&P 500® Index listed on CBOE Exchange, Inc. (“CBOE Options”) (Symbol: SPX). Only SPX options with Friday expirations are used to calculate the VIX Index. The VIX Index is calculated between 2:15 a.m. CT and 8:15 a.m. CT and between 8:30 a.m. CT and 3:15 p.m. CT. Only SPX options with more than 23 days and less than 37 days to the Friday SPX expiration are used to calculate the VIX Index. These SPX options are then weighted to yield a constant, 30-day measure of the expected volatility of the S&P 500 Index”
The above is the opinion of John Thorpe, Cannon’s broker since 2002. Do your homework, take a look at charts, see if you can find any correlations and understand that this is provided as trading insight/ opinion and readers are urged to use their own due diligence.
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.

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

10-12-2020

Futures Trading Levels 10.12.2021

 


Economic Reports, source: 

https://bettertrader.co/ 

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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.

Weekly Newsletter1070: Get An Edge With the Trading Psychology Course + Levels for the Trading Week Ahead 10.11.2021

Posted on by Ilan

Cannon Futures Weekly Letter Issue # 1070

Dear Traders,

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

 

Get An Edge With the Trading Psychology Course

“You Must Understand That There Is More Than One Path To The Top Of The Mountain.”- Miyamoto Musashi, A Book Of Five Rings: The Classic Guide To Strategy
Many experienced traders say that the stiffest challenge you’ll face in becoming a futures trader is conquering your own psyche. Why? Because losing is part of trading, and people hate to lose.
In this “Trading Psychology” Course you will learn:
  • How to examine your patterns and behaviors and recognize when they are holding you back
  • Maintaining self-confidence as a trader even in the face of inexperience
  • The mathematical expectation model and how it can decrease your losses
  • Determining the trading plan that is right for your trading personality
  • Understanding and using Motivation – Risk – Reward to its full advantage
  • Creating effective trading technique strategies
  • Qualities of Successful Traders

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

10-11.2021

Support & Resistance Levels 10-11-2021

 

Weekly Levels

Weekly Support and Resistance Levels

 

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 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 10.08.2021

Posted on by Ilan

Dear Traders,

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
1. Using Bollinger Bands as a possible tool for exiting trades
2. One way you can use the Parabolics study ( also known as PSAR) to manage current positions, possibly as a trailing stop
3. Different ways traders can utilize support and resistance levels in their trading.
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.

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

10-08-2020

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Economic Reports, source: 

https://bettertrader.co/ 

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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.

A Trader’s Guide to Futures 10.07.2021

Posted on by Jenny Collins

Dear Traders,

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

Separator

Everyone loves an introductory guide to trading futures! Even experienced traders can learn something new or refresh their strategies by reviewing this trader’s guide to futures. If you’re a trader who is interested in branching out from equities or cash FX into futures, this guide will provide a great starting point. If you already know something about futures trading, you can jump to any chapter for a review.  Additionally, you can also go to the back of the booklet and test your knowledge in our helpful Futures Quiz.
Some of the guide sections include:

Who Trades Futures?

What Types of Traders are There?

What Makes Futures Trading Different?

How Does a Trade Work?

How Do I Get Started?

Futures Quiz

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Futures Trading Levels

10-07-2021

Support & Resistance Levels 10.07.2021

Did you know?
Cannon offers over 10 TRADING PLATFORMS CLICK HERE for a demo

Economic Reports, source: 

 www.BetterTrader.co

Better Trader Reports 10.07.2021

 

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 as well as options on futures.

Crude Oil Leading Many Markets? & Support and Resistance Levels 10.06.2021

Posted on by Ilan

Dear Traders,

Get Real Time updates and more on our private FB group!
Separator

Crude Oil Leading Many Markets?

I was doing some homework last night, back testing different entry signals etc.
By mistake I plugged in a system that takes crude oil signals and applies it to the current market I was testing – Seems that these past 2 years or so, signals taken based on crude oil were more accurate ( using this specific trend following formula I was using) than signals based on the underlying contract!! To clarify I am testing longer term model using the DAILY chart.
Cotton, Coffee, Corn, beans, Gold and SP500 all did better based on price action/ signals using crude oil prices than their own data!!
Obviously this requires more in depth work, statistical analysis and forward testing but I thought it was interesting enough to share with you and give you some ideas perhaps even something to look into on intra day basis?
Speaking on crude pay attention to inventory report tomorrow.

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

10-06-2021

Support and Resistance Levels 10.06.2021

Economic Reports, source: 

 www.BetterTrader.co

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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 as well as options on futures.

Natural Gas, Crude Oil, Stocks and Rates, Support & Resistance Levels 10.05.2021

Posted on by Jenny Collins

Dear Traders,

Get Real Time updates and more on our private FB group!
Separator
Natural Gas, Crude Oil, Stocks and Rates
They all work together with a strong relationship. At times with direct correlation, at times with inverse correlation.
Do some homework, overlay some charts, look for clues that can help you while trading and provide even the smallest edge.
Natural gas, Crude oil have been on a bullish stretch lately. See a weekly chart of Natural gas below.
Other commodities like cotton and oats are also experiencing strong bull runs – is this due to in inflation? Supply chain fears? New “COVID world” environment?
Current levels to watch for on the major markets mentioned above:
Nov. Natural Gas:
Pivot 5.72
Support 5.14
Resistance 6.80
Nov. Crude Oil:
Pivot 74.72
Support 74.02
Resistance 79.25
Dec. 30 year bonds:
Pivot 161.12
Support 158.22
Resistance 164.02
Dec. Mini SP500:
Pivot 4437.00
Support 4251.00
Resistance 4540.00
Natural Gas Weekly Chart Cannon Trading

Futures Trading Levels

10-05-2021

Support & Resistance Levels 10.05.2021
Did you know?
Cannon offers over 10 TRADING PLATFORMS CLICK HERE for a demo

Economic Reports, source: 

 www.BetterTrader.co

Better Trader Report 10.05.2021

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 as well as options on futures.

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.