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.

Christmas 2020 Holiday Schedule for CME / Globex and ICE Exchange

Christmas 2020 Holiday Schedule for CME / Globex and ICE Exchange

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*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® Christmas Day 2020 Holiday Schedule for CME / Globex and ICE Exchange

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

ICE Futures Christmas Day 2020 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.

Crude Oil Bullish? & Support and Resistance Levels 12.17.2020

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Dear Traders,

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We are entering the last 2 weeks of 2020.
The last two weeks of December can at times be very choppy as many larger traders/ institutions take the time off. However, this year with COVID, things might be different…..
In between a look at Crude Oil Futures daily chart. Crude has been showing some bullish signs past couple of weeks, possible levels on the chart below.
crudeOil12162020

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

12-17-2020

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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.

New Product:  Small Exchange Treasury Yield & Support and Resistance Levels 12.16.2020

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Dear Traders,

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Have you heard? There’s a new futures exchange in town and NOW you can trade the 10 years Yield!.
Interest rates have never been lower,* and now trading them has never been easier. Small Treasury Yield / S10Y gives you access to the lowest interest rate environment in the history of US Treasuries all in a small, standard, and simple future. And the Small Exchange is letting you test it out for zero exchange transaction fees! Put oversized, complicated bond products in your past… trade the future of interest rates.
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Don’t miss this limited-time opportunity to trade S10Y for zero exchange transactions fees! The Small Exchange will waive all exchange transaction fees for the Small Treasury Yield futures until January 29th.†
*All-time low in 10-year Treasury rate of 0.52% on August 4, 2020, according to treasury.gov.
†The Small Exchange $0.07 and $0.15 exchange transaction fees will be waived. Commissions and other fees charged by, or passed through from, your broker will still apply. Visit the Small Exchange fee page for a full list of our fees.
© 2020 Small Exchange, Inc.  All rights reserved.  Small Exchange, Inc. is a Designated Contract Market registered with the U.S. Commodity Futures Trading Commission.  The information in this advertisement is current as of the date noted, is for informational purposes only, and does not contend to address the financial objectives, situation, or specific needs of any individual investor.  Trading futures involves the risk of loss, including the possibility of loss greater than your initial investment.

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

12-16-2020

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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.

Emini Rollover; Learning to Take a Losing Trade and Futures Levels 12.15.2020

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Dear Traders,

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Rollover Notice: Start trading the March contracts for ES/ NQ/ MICROS/ currencies and many other markets.
One trait that separates good traders from the not soo good….in my opinion?
Ability to lose.
Many different factors go into trading. Too many to discuss efficiently in one blog post. Some relate to trading techniques, other to money management, mental aspect, risk capital and much more.
But one that sticks in my eyes is the ability to take a loss. I see many clients who can make money and have days where they make money but when they lose, they lose much more, sometimes even losing control and losing a big portion of their account.
I am not sure how a trader can embed this into their trading mind, BUT in my opinion if you train your brain to expect losses, understand losses and that losing days will happen, you will increase your chances of surviving in this business, which in return will actually give you a chance to succeed….
Losses are part of trading and as long as your losses are part of the plan and are quantified in advance and you can adhere to your rules, then you have a chance. I think it’s easy when traders are winning…making money etc. Much harder when you lose or down. your brain starts playing tricks on you…it tells you to double down, maybe reverse even though your analysis does not say so….all of a sudden you start pulling trades out of instinct, fear rather than a calculated plan that has solid risk/ reward. If a trader learns how to lose, to accept losses, to have realistic expectations, then he/ she can avoid having one of those terrible days when traders can lose almost of all their 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

12-15-2020

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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.

Weekly Newsletter Issue # 1032 – Trading Resources and more! 12.14.2020

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

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Hello Ilan,
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Rollover notice: Front month for stock index futures ( es/ym/nq/micros etc.) as well as currencies is now MARCH.
Free eBook:
Opportunities and Risk, an Educational Guide to Trading Futures and Options
93 page PDF eBook available for instant download
*Learn about futures basics
*Learn about options basics
*Margins and margin calculations
*Spreads
*Options spreads and calculations
*Trading Strategies
*Regulations
*Much More!
NASDAQ 100 Futures
Daily chart of NASDAQ100 futures ( NQ and the MICRO MNQ) below for your review.
March is now the FRONT month. NQH21.
While volatility is not as high as it was in March / April, we are still witnessing very large moves both ways.
Current trend is up but market looks a bit overbought and ready for a possible correction. Please see chart for potential support and resistance levels.
With the high volatility we are seeing, I would highly recommend looking at the MICRO contracts including the MICRO NQ which is 1/10th the size of the mini NASDAQ. The symbol is MNQ and you can read more about the MICROS here.
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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

12-14-2020

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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.

Gold Trading Futures Daily Chart & Trading Levels 12.11.2020

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Dear Traders,

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You can look at gold trading from two angles…
Break above 1880 can trigger a run back above 2000.
Failure to do so can push the yellow metal into towards the 1750 level
gold 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

12-11-2020

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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. For more information on gold trading then contact our gold trading experts here.

New Futures Products on Small Exchange & Levels 12.10.2020

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

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Dear Traders,

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6faab4e4 ead7 4695 9c49 b305556a1e91
Have you heard? There’s a new futures exchange in town.
The Small Exchange is making markets more accessible to more people with products that mix the efficiency of futures with the simplicity of stocks.
Built on the pillars small, standard, and simple, the Smalls offer easily adoptable solutions to risk management and speculative needs of the modern trader in markets ranging from stocks and bonds to currencies and commodities. Now available at Cannon Trading with FREE market data.
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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

12-10-2020

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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.

Futures Options Writing Insight & Support and Resistance Levels 12.09.2020

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

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Dear Traders,

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Trading 202: Futures Options Writing
Have you ever wondered who sells the futures options that most people buy? These people are known as the option writers/sellers. Their sole objective is to collect the premium paid by the option buyer. Option writing can also be used for hedging purposes and reducing risk. An option writer has the exact opposite to gain as the option buyer. The writer has unlimited risk and a limited profit potential, which is the premium of the option minus commissions. When writing naked futures options your risk is unlimited, without the use of stops. This is why we recommend exiting positions once a market trades through an area you perceived as strong support or resistance. So why would anyone want to write an option? Here are a few reasons:
  1. Most futures options expire worthless and out of the money. Therefore, the option writer is collecting the premium the option buyer paid.
  2. There are three ways to win as an option writer. A market can go in the direction you thought, it can trade sideways and in a channel, or it can even go slowly against you but not through your strike price. The advantage is time decay.
  3. The writer believes the futures contract will not reach a certain strike price by the expiration date of the option. This is known as naked option selling.
  4. To hedge against a futures position. For example: someone who goes long cocoa at 850 can write a 900 strike price call option with about one month of time until option expiration. This allows you to collect the premium of the call option if cocoa settles below 900, based on option expiration. It also allows you to make a profit on the actual futures contract between 851 and 900. This strategy also lowers your margin on the trade and should cocoa continue lower to 800, you at least collect some premium on the option you wrote. Risk lies if cocoa continues to decline because you only collect a certain amount of premium and the futures contract has unlimited risk the lower it goes.

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

12-09-2020

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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.

Sugar Futures Daily Chart Review & Futures Levels 12.08.2020

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Dear Traders,

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Sugar daily chart below. Sugar futures have good volume and in my opinion are a good market for swing trading type of activity.
Sugar is traded on ICE so real-time quotes are not as easily obtained.
Sugar futures got a little sweeter these past few weeks, mainly due to US$ weakness.
Current levels to try an evaluate if this pullback is a pullback or more…
1413 is next major support basis the March Contract.
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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

12-08-2020

b7428a33 e314 48f7 a043 c8712935fdb4

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.

Weekly Newsletter #1031: Knowing What You Don’t Know in Trading Markets, Copper Futures Daily Chart & Futures Levels 12.07.2020

Cannon Futures Weekly Letter Issue # 1031

Dear Traders,

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Trading 101: Knowing What You Don’t Know in Trading Markets
From our friend Jim Wyckoff at JimWyckoff.com
The headline of this educational feature may be a bit confusing, but I will explain what I mean shortly. First, I want to reiterate that trading futures, stock and FOREX markets is not an easy undertaking. It disgusts me that there are a few unsavory people in our industry that portray trading as an easy, get-rich-quick scheme, or as some endeavor for which there are “secrets” to be learned from those who hold “trading secrets.”
Folks, the plain truth is that there are no trading secrets and no easy paths to quick success in trading markets. Beware of anyone who tries to tell (or sell) you such. One of the biggest obstacles to success in trading markets is a lack of knowledge and understanding of the process of trading. The “process of trading” includes understanding financial leverage, market behavior and trader psychology. Understanding the process of trading can be achieved with perseverance and a willingness to continue to learn.
It’s not coincidental that trading markets is similar to most other human endeavors: Hard work and experience are required to achieve notable success. A person who enjoys classic automobiles would not attempt to tear down and successfully rebuild an engine without having some previous experience, or without having learned about the workings of an automobile engine—including knowing about the tools involved in the operation
Click here to Read the rest of the article
Dr. Copper
Copper and copper futures have a special place in the commodity futures universe. As one of the most important industrial and building materials in the world, copper’s market price is seen as an important fundamental economic indicator for not only the health of the U.S. economy, but also for the robustness of the world’s economy as a whole. In fact, because of copper’s generally accepted importance as an economic indicator in predicting and reflecting over-all economic health, it is ascribed to be the only commodity with a doctorate degree in the field of economics, hence the title, “Dr. Copper”. Cannon Trading’s brokers affectionately call out the words “Dr. Copper” when referring to copper’s present price and market movements, amongst themselves, in a cheerful genuflecting to the respect we believe this commodity and futures contract deserves. Copper’s recent market trading range /trend can be observed in the daily chart below.
Copper Futures Specs
Hours: 5:00 PM to 4:00 PM next day PM Central Time
Margins: $4620 initial, $4200Maint. ( as of the date of this newsletter)
Point Value: full Cent = $12.50( Example: $5.60 to $5.61/bu ). Min fluctuation is 2/8ths of a cent = $12.50 ( Example: 5.60 -5.602)
Settlement: Deliverable, FND is last business day preceding the contract month
Months: March (H), May (K), July (N), September (U,) December(Z)
Weekly Options: NO
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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

12-07-2020

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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 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