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

Good Friday 2021 Holiday Schedule for CME / Globex and ICE Exchange

Posted on by Ilan

Good Friday 2021 Holiday Schedule for CME / Globex and ICE Exchange

f7c55861 4c29 41f0 bd90 0af3aa1300a7

*Dates and times are subject to change

If you have any questions, please call the CME Global Command Center at +1 800 438 8616, in Europe at +44 800 898 013 or in Asia at +65 6532 5010

Globex® Good Friday 2021 Holiday Schedule for CME / Globex and ICE Exchange

More details at: http://www.cmegroup.com/tools-information/holiday-calendar.html 

ICE Futures Good Friday 2021 Holiday Schedule for CME / Globex and ICE Exchange

Detailed holiday hours for ICE Futures: https://www.theice.com/holiday-hours

The above sources were compiled from sources believed to be reliable. Cannon Trading assumes no responsibility for any errors or omissions.  It is meant as an alert to events that may affect trading strategies and is not necessarily complete.  The closing times for certain contracts may have been rescheduled.

EMini Dow (YM) Chart Review & Support and Resistance Levels 3.30.2020

Posted on by Ilan

_________________________________________________

Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!  

_________________________________________________

Dear Traders,

Like us on FaceBook!
Get Real Time updates and market alerts on Twitter!
Get Real Time updates and more on our private FB group!
Friday and today we saw “extra erratic” behavior in stock index futures.
Some attribute this to the liquidation of hedge funds on the equities side.
Others voiced their opinion to me that while in points the moves are erratic, if you translate the moves into PERCENT % of change, it is not too much different than a 18 months ago or so…we are simply trading much higher so the same % move equals more in terms of points.
Either way, for me personally it has been tough to read the markets as of lately, especially the indices. Couple of things that have helped are: using the MICROS so I can place stops/ entries and targets based on the chart and NOT my fear index. The other is diversifying with other markets, for example my read with 30 yr bonds and crude oil have been better.( I also started using the mini crude with some clients pending account size for the same reason above: “reduce the heart attack index”) . Last but not least, I PERSONALLY found out that with recent volatility the Emini Dow YM or MYM ( micro Dow) as well as the RTY and M2K ( mini and micro Russell) have been easier for me to read than trying to make sense of ES and NQ.
30 minutes chart of the Emini Dow YM below for illustration of the above comments.
704c3af3 3735 4cfb 8708 757a714e5cf5

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

3-30-2021

eaa78ddf dfb1 46e1 b807 27fe578bfeb0

Economic Reports, source: 

 www.BetterTrader.co

1a7b7e41 f02e 4d75 bb2d 43e6a39d4012

 

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 #1045 Tight Stops? Wide Stops? Which One Should I Use? & 30 Year Treasury Bond Chart Review & Trading Levels for Week Ahead 3.29.2021

Posted on by Ilan

Cannon Futures Weekly Newsletter Issue # 1045

Dear Traders,

Like us on FaceBook!
Get Real Time updates and market alerts on Twitter!
Get Real Time updates and more on our private FB group!
Trading 102: Tight Stops? Wide Stops? Which One Should I Use?
Entry Signals Are Very Important But Just As Important If Not More Is Trade Management.
By: Ilan Levy-Mayer, Cannon Trading Commodities Broker & VP
This article was published on FinanceMagnates.com back a couple years ago but is defintely a timeless article.
Today I decided to touch more on an educational feature rather than provide a certain market outlook. Many of my clients and blog readers know that when it comes to short term trading I am a fan of adjusting your trading technique/ game plan according to your assessment of the type of trading day that is developing in front of you.
Many new and advanced traders spend HOURS on looking for entry signals. Back testing historical data, creating algorithms to use and much more. I know. I am one of these traders.
Trade management consists of many factors. Some are psychological and some are more mathematical and many are in between. Some of the basic elements of trade management before even entering the trade are: What will my stop loss be**? will i use a stop loss**? What will my target be? will I use a target or just trail the trade if it goes my way?
Weekly chart of US 30 year bond futures for your review below. Click here for Larger image.
The bond market, more specifically, interest rate and yield projections, have been the big force behind the moves in many other futures markets. Bonds and the U.S. dollar have been key markets to watch, regardless of whether you are trading the E-mini S&P 500, gold, crude oil or soybeans. The way “big money” flows between asset classes, the allocation of assets, as well as the hedging interests in different markets are the main forces behind most of the markets we trade here.
30 Year Treasury Weekly 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 when it comes to Futures Trading.

 

Futures Trading Levels

3-29-2021

18cb177a ad0c 42ea 8964 4d841c222fa5

 

Weekly Levels

a19958e1 1761 4ec6 ad65 7881299fa2d8

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

https://mrci.com

Date Reports/Expiration Notice Dates

0557e5f2 e1a2 499d 9871 1b1c230d0a4d

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

Price Action & Clues to Look For, Mini Russell Chart Review, & Support and Resistance Levels 3.25.2021

Posted on by Ilan

_________________________________________________

Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!  

_________________________________________________

Dear Traders,

Like us on FaceBook!
Get Real Time updates and market alerts on Twitter!
Get Real Time updates and more on our private FB group!
Look for clues from other markets, Money flow between markets.
Who is leading the way?
Are bonds leading the way? perhaps crude oil prices?
How about among stock indices?
These past few days it seems to me that small caps are leading the way and not the NASDAQ like it was a few weeks ago.
Look for clues from the price action in the mini Russell (RTY)?
Explore/ learn possible spread trading like YM vs. ES
RTY vs. YM?
NQ vs ES?
2*RTY vs NQ? or perhaps 1 mini Russell vs 5 MNQ?
Just sharing some thoughts and ideas for you to explore and do some homework on….
30 minutes chart of the mini Russell from today below.
E-Mini Russell Futures
To access a free trial to the ALGOS shown in the chart along with other tools, visit and sign up for a free trial for 21 days with real-time data.

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

3-26-2021

57bc26a7 ad8f 4ba9 baa1 9f49bd20b1f2

Economic Reports, source: 

 www.BetterTrader.co

08f896ad 5626 4968 ba38 c8e0233eafa2

 

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.

Using Range Bar Charts when Trading & Futures Support and Resistance Levels 3.24.2021

Posted on by Ilan

_________________________________________________

Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!  

_________________________________________________

Dear Traders,

Like us on FaceBook!
Get Real Time updates and market alerts on Twitter!
Get Real Time updates and more on our private FB group!
Why I like using range bar charts for daytrading futures
video below

Range Bar Charts Video:

Why I like Using Range Bar Charts for Day-trading Futures

Good Trading

Range Bar Charts, Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involve substantial risk of loss and are 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

3-25-2021

d73503d1 cdf5 40c4 9d15 e3285f601408

Economic Reports, source: 

 www.BetterTrader.co

3641beaf 5c99 4813 ab1a c08aada078b1

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.

ES Chart Review & Support and Resistance Levels 3.24.2021

Posted on by Ilan

_________________________________________________

Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!  

_________________________________________________

Dear Traders,

Like us on FaceBook!
Get Real Time updates and market alerts on Twitter!
Get Real Time updates and more on our private FB group!
Look for clues from other markets, Money flow between markets, small excerpt from my colleague Al Bicoff that he sent me this morning before the cash open:
Money flow for M S&P’S:
K CRUDE down 2.34 / negative
K Copper down 5.05 / negative
M BONDS up 0.17 / negative
M YEN up 0.035 / negative
M PALLADIUM down 2.0 / negative
M US$ up 0.427/ negative
30 minutes chart of the ES from today below.
ES 30 Minute 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 when it comes to Futures Trading.

 

Futures Trading Levels

3-24-2021

095c06bb faa8 424f 94a4 78120c996aba

Economic Reports, source: 

 www.BetterTrader.co

b0371282 7f29 469a 8b40 f62c93d363e0

 

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.

Bollinger Bands & Parabolics for Trade Exits? & Support and Resistance Levels 3.23.2021

Posted on by Ilan

_________________________________________________

Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!  

_________________________________________________

Dear Traders,

Like us on FaceBook!
Get Real Time updates and market alerts on Twitter!
Get Real Time updates and more on our private FB group!
Updates include variety of trading topics and insight like
How I like to use Bollinger bands and Parabolics for trade exits
video below:
How I like to Use Bollinger Bands and Parabolics for Trade Exits

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

3-23-2021

0710a0e5 cdcb 439e bb4b 6f864fd7d90e

Economic Reports, source: 

 www.BetterTrader.co

c3bdeaad fdd1 4896 812c fa02b2d66126

 

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 #1044 Day Trading Commodities with Crude Oil Futures & Trading Levels for Week Ahead 3.22.2021

Posted on by Ilan

Cannon Futures Weekly Newsletter Issue # 1044

Dear Traders,

Like us on FaceBook!
Get Real Time updates and market alerts on Twitter!
Get Real Time updates and more on our private FB group!
Trading 102: Day Trading Commodities with Crude Oil Futures
Crude Oil Futures Volatility Offers A “Different Market Personality” Than Stock Index Futures. Here Is Some Of The Things You Need To Know About Day Trading Crude Oil Futures:
By: Ilan Levy-Mayer, Cannon Trading Commodities Broker & VP
Crude Oil is one of MY favorite futures market for day trading. Before I dive in and share with you how the volatility in crude oil fits my risk tolerance for day trading and provide a couple of chart examples, we should review some of the specifications of Crude Oil Futures.
Crude Oil Futures have monthly expiration. So each month we trade a different contract month, so one needs to know when is the first notice day and last trading day for crude oil futures in order to always make sure we are trading the proper month with the most liquidity and avoid any chance of getting into delivery situation.
Next is the contract size. Crude Oil futures are based on 1000 barrels. To be honest from a day trading perspective all I care is that each tick or 1 cent fluctuation is $10 against me or in my favor per contract. That means that a move from 92.94 to 92.74 = $200.
Another factor is trading hours. At the time I am sharing my thoughts with you, April 8th 2013, crude oil futures trade on the CME Globex platform and trade from 5 PM CDT until the next day at 4 PM CDT. That is 23 of straight trading hours. I definitely don’t recommend day trading this market 23 hours…but it is good to know the trading hours.
Volume in crude oil futures is pretty good to trade in my opinion. Averaging about 300,000 contracts per day.
One last pointer to touch on is the API (American Petroleum Institute) report that normally comes out Wednesday at 9:30 CDT (on short weeks, holidays etc. , this report will be pushed to Thursday at 10 AM CDT). I tell my clients that this report is way too volatile and I like to be out 5 minutes before and not resume trading 5 minutes until after the report comes out. This report by itself deserves a writing but on short, the report provides information on how our stock pile is doing ( = supply/demand) and the market will move based on the numbers versus what was expected. Again as a day trader, your main job is to know about this report, when it comes out and in my opinion stay out of the market during this time..Fill out the form below to read the full article.
Weekly chart of Crude Oil futures for your review below. Click here for Larger image.
Crude Oil Weekly 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 when it comes to Futures Trading.

 

Futures Trading Levels

3-22-2021

081cef5f 7397 417d 8eba 43493e5a05c3

 

Weekly Levels

aba556f1 d443 409a b261 cf409c4a76d2

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

Crude Oil Futures Chart Review & Support and Resistance Levels 3.19.2021

Posted on by Ilan

_________________________________________________

Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!  

_________________________________________________

Dear Traders,

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

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

https://business.facebook.com/groups/1105191589938254/

Wow Crude Oil Futures!! May is now front month. CLK21 or GCLK21 or CLEK21
Daily chart below for reference.
Crude Oil Futures Daily Chart

Good Trading

Crude Oil 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

3-19-2021

e45b7c29 47da 4470 8899 a845ed7181f4

Economic Reports, source: 

 www.BetterTrader.co

3a002a4c ce1e 47de 9ceb d7837a73ce10

 

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.

ES Tick Chart Review & Support and Resistance Levels 3.18.2020

Posted on by Ilan

_________________________________________________

Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!  

_________________________________________________

Dear Traders,

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

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

https://business.facebook.com/groups/1105191589938254/

FOMC days are definitely different type of trading days!
Quiet choppy pre FOMC and then volatile, two sided action followed by a small sell off and then a sharp rally.
Write some notes in your trading journal. What the market did, how did you react, as much insight as you can so before the next FOMC meeting you can look back and use the notes for better trading.
Intraday ES ( mini SP500 ) chart below for your review.
Note the chart is a RANGE BAR chart, 12 ticks range bars in this case, covering the action from the actual announcement.
Emini ES Tick 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 when it comes to Futures Trading.

 

Futures Trading Levels

3-18-2021

62efb867 27e4 443f 83b1 425e07a37bd8

Economic Reports, source: 

 www.BetterTrader.co

5d6c6dc0 c29c 4ee7 9630 d8965db91d06

 

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.