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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Memorial Day 2023 Holiday Schedule for CME / Globex and ICE Exchange

Posted on May 23, 2023 by Ilan

Memorial Day 2023 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® Memorial Day 2023 Holiday Schedule for CME / Globex and ICE Exchange

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

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.

10 Qualities to Look for In a Futures Trading Platform

Posted on May 23, 2023May 23, 2023 by Cannon Operations

Learn about futures trading platforms offered by Cannon Trading Company here.

When it comes to futures trading, choosing the right platform is essential for success. With so many futures trading platforms available, it can be difficult to know which one to choose. In this article, we will explore some of the key characteristics to look for when choosing a futures trading platform.

Reliability
Reliability is one of the most important characteristics to look for when choosing a futures trading platform. The platform should be able to handle large volumes of trading activity without experiencing slowdowns or crashes. The last thing you want is to have your trades disrupted by technical issues with the platform.

Before choosing a futures trading platform, make sure to research the platform’s reliability. Look for reviews from other traders, and check the platform’s uptime and response times during periods of high trading activity.
SecuritySecurity is another critical characteristic to look for when choosing a futures trading platform. The platform should have robust security measures in place to protect your personal and financial information. Look for platforms that use encryption to protect your data and two-factor authentication to secure your account.
It’s also important to choose a platform that is regulated by a reputable regulatory authority. This will help ensure that the platform operates within legal guidelines and is held accountable for any misconduct.
User-Friendly Interface
A user-friendly interface is essential for traders who want to make informed decisions quickly. The platform should be easy to navigate, and the trading tools and resources should be intuitive and accessible. Look for platforms that offer customizable dashboards and trading tools that can be tailored to your needs.
Range of Markets
The range of markets available on a futures trading platform is another important factor to consider. Look for platforms that offer a wide variety of futures contracts, including agricultural, energy, metals, interest rates, and equity indexes. The more markets available, the more opportunities you’ll have to diversify your portfolio and find profitable trades.
Trading Tools and Resources
Trading tools and resources are essential for traders who want to make informed decisions. Look for platforms that offer real-time market data, research and analytics, order types, trading APIs, and risk management tools. These tools can help you analyze the markets, identify trends, and execute trades with precision.
Low Fees
Low fees are important for traders who want to maximize their profits. Look for platforms that offer low commissions, margin rates, and transaction fees. However, it’s important to keep in mind that low fees may come with trade-offs, such as limited trading tools or resources.
Customer Support
Customer support is another critical characteristic to look for when choosing a futures trading platform. The platform should offer reliable customer support that is available 24/7. Look for platforms that offer multiple support channels, such as phone, email, and live chat, so you can get help quickly if you run into any issues.
Mobile Trading
Mobile trading is becoming increasingly popular among traders who want to stay connected to the markets while on-the-go. Look for platforms that offer mobile trading apps that are user-friendly and offer the same trading tools and resources as the desktop platform. This will allow you to monitor your trades and execute orders from anywhere at any time.
Education and Training
Education and training are essential for traders who want to improve their skills and stay up-to-date on the markets. Look for platforms that offer educational resources, such as webinars, tutorials, and articles, that can help you learn the basics of futures trading and develop advanced trading strategies.
Demo Account

A demo account is a useful tool for traders who want to test the platform and practice trading strategies without risking real money. Look for platforms that offer demo accounts that simulate real trading conditions. This will allow you to familiarize yourself with the platform and test your strategies in a risk-free environment.

Ready to start trading futures? Call 1(800)454-9572 and speak to one of our experienced, Series-3 licensed futures brokers and start your futures trading journey with Cannon Trading Company today.

Disclaimer – Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. Past performance is not indicative of future results. 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.

FOMC Minutes this week, Flash PMI Tomorrow

Posted on May 22, 2023 by Ilan

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

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

The Week Ahead:

By John Thorpe, Senior Broker

THIS WEEK FOMC Minutes will be the big mover in addition to ongoing Debt limit increase negotiations between The Executive and Legislative branches of government. Minutes of the FOMC meeting of May 2-3 will be released on Wednesday at 1:00PM CDT. In the immediate wake of the FOMC statement there was optimism that Fed policymakers were leaning toward a pause in interest rates after a swift raising of the fed funds target range by 500 basis points that began 13 months ago. However, Fed Chair Jerome Powell pushed back against that perception in his press briefing on May 3. Although, he did say last week that tight credit conditions may limit the need for further policy tightening. In the weeks since the meeting, other Fed policymakers have cautioned against being too certain that more rate hikes are not on the way.

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The minutes are likely to reinforce these views, and that these views probably haven’t shifted. The economic data released in recent weeks point to a still strong labor market and continued stubborn inflation. This is the formula that has kept the Fed on a path of further tightening to address imbalances in the labor supply/demand and reduce demand for goods and services that are pushing up prices.

Plan your trade and trade your plan.

Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.

Futures Trading Levels

for 05-23-2023

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

Economic Reports, Source:

Forexfactory.com

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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.

10 Qualities to Look for In Potential Commodity Brokers

Posted on May 20, 2023May 16, 2023 by Cannon Operations

Potential Commodity Brokers

Learn more about working with Cannon Trading Company commodity brokers here.

Commodity brokers play an important role in the futures market, helping traders to buy and sell commodity contracts such as gold, oil, and agricultural products. A good commodity broker can help traders navigate the complexities of the market, providing valuable advice and guidance on trading strategies and risk management. In this article, we’ll explore the ten signs that you’re working with a good commodity broker.

Solid Reputation
A good commodity broker will have a solid reputation in the industry. Look for a broker with a proven track record of success and a reputation for honesty, transparency, and professionalism.
Regulatory Compliance
Commodity brokers are regulated by government agencies such as the Commodity Futures Trading Commission (CFTC) in the United States. A good broker will be fully compliant with all regulatory requirements, ensuring that their clients’ funds are protected and that trading activity is transparent.
Competitive Fees
Commodity brokers typically charge fees for their services, including commissions and transaction fees. A good broker will offer competitive fees that are in line with industry standards.
Access to Markets
A good commodity broker will have access to a wide range of markets, allowing traders to trade a variety of commodities and futures contracts.
Technology Platform
Commodity brokers typically provide traders with access to a trading platform that allows them to monitor the markets, execute trades, and manage their accounts. A good broker will offer a reliable, user-friendly platform that is equipped with the latest technology and tools.
Trading Education
Commodity brokers should also provide their clients with educational resources to help them learn about the markets and develop effective trading strategies. A good broker will offer a range of educational materials, including webinars, tutorials, and market analysis.
Risk Management
A good commodity broker will also provide their clients with tools and strategies for managing risk. This may include stop-loss orders, hedging strategies, and risk management consultations.
Personalized Service
A good commodity broker will provide personalized service to their clients, taking the time to understand their individual needs and goals. They should be available to answer questions, provide guidance, and help clients navigate the market.
Transparency
A good commodity broker will be transparent about their trading practices, including fees, commissions, and trading strategies. They should be open and honest with their clients about the risks and potential rewards of trading commodities.
Support for Multiple Account Types
Finally, a good commodity broker should offer support for multiple account types, including individual accounts, joint accounts, corporate accounts, and retirement accounts. This flexibility allows traders to choose the account type that best meets their needs.

Commodity brokers play a critical role in the futures market, helping traders to navigate the complexities of commodity trading and manage their risk. When choosing a commodity broker, look for a broker with a solid reputation, regulatory compliance, competitive fees, access to markets, a reliable technology platform, trading education, risk management tools, personalized service, transparency, and support for multiple account types. By working with a good commodity broker, traders can enhance their trading experience in the futures market.

Ready to start trading futures? Call 1(800)454-9572 and speak to one of our experienced, Series-3 licensed futures brokers and start your futures trading journey with Cannon Trading Company today.

E-mini Futures: The Pros and Cons of Trading them

Posted on May 19, 2023May 16, 2023 by Cannon Operations

emini futures

Learn more about trading e-mini futures with Cannon Trading Company here.

E-mini futuresl, or electronically traded mini futures contracts, are a popular instrument for traders looking to access a wide range of markets with relatively low capital requirements. E-mini futures are designed to track the performance of major stock indexes, commodities, and currencies. In this article, we’ll explore the pros and cons of trading E-mini futures to help you decide if they are right for you.

Pros of Trading E-mini Futures

Diversification
One of the biggest advantages of trading E-mini futures is the ability to diversify your portfolio. E-mini futures allow you to trade a variety of markets, including equity indexes, commodities, and currencies. This diversification can help you spread risk and reduce the impact of any single market downturn on your overall portfolio.
Lower Capital Requirements
E-mini futures contracts require significantly less capital than traditional futures contracts. This lower capital requirement makes E-mini futures accessible to a wider range of traders, including those with smaller trading accounts.
High Liquidity
E-mini futures are highly liquid, which means that there are always buyers and sellers in the market. This high liquidity makes it easy to enter and exit trades quickly and at the desired price.
Transparency
E-mini futures are traded on regulated exchanges, which means that the pricing and trading activity of these contracts are transparent. This transparency allows traders to see the current price and trading volume of each contract, which can help inform trading decisions.
Leverage
E-mini futures contracts offer leverage, which allows traders to control a larger position with a smaller amount of capital. This leverage can amplify returns but also increase risk, so it should be used with caution.

Cons of Trading E-mini Futures

Volatility
E-mini futures can be volatile, especially during times of market uncertainty. This volatility can result in rapid price swings and sudden losses for traders who are not prepared.
Leverage
While leverage can amplify returns, it can also increase risk. Traders who use too much leverage may find themselves facing large losses that they are unable to cover.
Technical Complexity
E-mini futures trading requires a certain level of technical knowledge and skill. Traders must be able to read charts, analyze market trends, and understand technical indicators in order to make informed trading decisions.
Time Commitment
Trading E-mini futures requires a significant time commitment. Traders must be able to monitor the markets, watch for trading opportunities, and execute trades quickly in order to be successful.
Market Dependency
E-mini futures are dependent on the performance of the underlying markets. If the stock market, for example, experiences a major downturn, E-mini futures contracts that track that market will likely experience losses as well.

E-mini futures can offer a number of benefits to traders, including diversification, lower capital requirements, high liquidity, transparency, and leverage. However, they also come with some drawbacks, including volatility, technical complexity, time commitment, and market dependency. Traders should carefully consider these pros and cons before deciding to trade E-mini futures. As with any investment, it is important to have a clear understanding of the risks involved and to have a solid trading plan in place before committing any capital.

Ready to start trading futures? Call 1(800)454-9572 and speak to one of our experienced, Series-3 licensed futures brokers and start your futures trading journey with Cannon Trading Company today.

Cannon Futures Weekly Newsletter Issue # 1146 Resistance Levels for 5/22/2023

Posted on May 19, 2023May 19, 2023 by Cannon Operations

Cannon Futures Weekly Newsletter Issue # 1146

Join our private Facebook group for additional insight into trading and the futures markets!

In this issue:

Important Notices – Win 1 OZ Gold Bar!
Trading Resource of the Week – Technical Patterns: Reversals
Hot Market of the Week – August Live Cattle
Broker’s Trading System of the Week – Browse Hundreds of “Hands Free” Systems
Trading Levels for Next Week
Trading Reports for Next Week

Important Notices –

Are you ready to go for gold?

Then here is your golden opportunity. CME Group will be launching the Go for Gold Precious Metals Trading Challenge coming this June.

You’ll have the opportunity to practice trading highly liquid Precious Metals products while competing against other traders for the chance to win the grand prize of a 1 oz. bar of gold*.

During the challenge, you’ll explore our suite of precious metals contracts and test-drive strategies in a simulated environment. We’ll send you exclusive, daily education materials on precious metals contracts in order for you to feel prepared to trade and confidently compete against your peers.

Get ready to strike gold.

*Participants will only be eligible to receive a 1 oz. gold bar if permitted in accordance with the applicable laws of their jurisdiction.

START DATE: June 4, 2023

END DATE: June 9, 2023

Trading Resource of the Week – Technical Patterns: Reversals

Learn about:

Head and Shoulders
Double Tops and Bottoms
Triple Tops and Bottoms

All in 5 minutes of quick video, examples and written explanation!

Expand Your Trading Arsenal Now!

A Cannon broker will be able to assist, provide feedback and answer any questions.

Hot Market of the Week – August Live Cattle

Hot market of the week is provided by QT Market Center, A swiss army knife charting package that’s not just for Hedgers, Cooperatives and Farmers alike but also for Spread traders, Swing traders and shorter time frame application for intraday traders with a unique proprietary indicator that can be applied to your specific trading needs.

FREE TRIAL AVAILABLE

August live cattle satisfied a third upside PriceCount objective last month and corrected. Now, the chart is recovered missing those April highs. At this point, new sustained highs on the date chart would open up the top side for possible run to the low percentage fourth count. However, first you have weekly chart overhead to old-time highs content would include including the massive Gap that may prove to be too difficult to overcome.

PriceCounts – Not about where we’ve been , but where we might be going next!

The PriceCount study is a tool that can help to project the distance of a move in price. The counts are not intended to be an ‘exact’ science but rather offer a target area for the four objectives which are based off the first leg of a move with each subsequent count having a smaller percentage of being achieved. It is normal for the chart to react by correcting or consolidating at an objective and then either resuming its move or reversing trend. Best utilized in conjunction with other technical tools, PriceCounts offer one more way to analyze charts and help to manage your positions and risk. Learn more at www.qtchartoftheday.com

Trading in futures, options, securities, derivatives or OTC products entails significant risks which must be understood prior to trading and may not be appropriate for all investors. Past performance of actual trades or strategies is not necessarily indicative of future results.

Hundreds of “Hands Free” Automated Systems to Choose from!

Are you too busy to trade? Perhaps you’re not confident enough and you’re trading. Maybe you’re looking to the diversify your own trading with algorithmic trading or what we call automated trading. Browse over 500 trading systems. Review back test results, live results, drawdowns, returns and much more!!

Start Here

Questions about the markets? trading? platforms? technology? trading systems? Get answers with a complimentary, confidential consultation with a Cannon Trading Company series 3 broker.

Trading Levels for Next Week

Daily Levels for May 22nd, 2022

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Weekly Levels

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Trading Reports for Next Week

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

www.mrci.com

This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts 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.

Good Trading!

Futures Trading Brokers of Cannon Trading Company

Posted on May 18, 2023May 16, 2023 by Cannon Operations

Futures Trading Brokers

Read more about trading through a Cannon Trading Company futures trading broker here

When it comes to futures trading, having the right broker on your side can make all the difference. At Cannon Trading Company, you’ll find a team of seasoned futures trading brokers who have been in business for a while and have a wealth of experience and knowledge to share. In this article, we’ll take a closer look at the benefits of working with a seasoned futures trading broker and how Cannon Trading Company’s team of brokers can change your outlook on trading commodities and futures.

Experience and Knowledge:
One of the primary benefits of working with a seasoned futures trading broker is their experience and knowledge. Cannon Trading Company’s team of brokers has years of experience in the industry and has worked with a variety of clients, from individual traders to institutional investors. This experience allows them to provide clients with sound advice and guidance, helping them to navigate the complex world of futures trading.

In addition to their experience, Cannon Trading Company’s brokers have a wealth of knowledge about the markets and the factors that can affect commodity prices. They stay up-to-date on the latest market trends and news, and they use this information to provide clients with informed recommendations on trades.
Personalized Service:
Another benefit of working with a seasoned futures trading broker is the personalized service they provide. Cannon Trading Company’s brokers take the time to understand their clients’ goals, risk tolerance, and trading styles, and they tailor their recommendations accordingly. They work closely with clients to develop trading strategies that are specific to their needs and objectives, and they provide ongoing support and guidance throughout the trading process.
Execution:
Cannon Trading Company’s team of brokers is known for their efficient execution of trades. They have a proven track record of executing trades promptly and at the best possible prices, and they use advanced trading technologies to ensure that clients’ orders are filled quickly and accurately.
Transparency:
Transparency is an essential quality of a good futures trading broker, and Cannon Trading Company’s brokers are committed to providing clients with clear information on fees, commissions, and other costs associated with trading. They are upfront about any conflicts of interest that may arise in their dealings with clients, and they are always available to answer clients’ questions and concerns.
Risk Management:
Effective risk management is critical in futures trading, and Cannon Trading Company’s brokers understand this. They work closely with clients to develop risk management strategies that are tailored to their specific needs and objectives. They provide clients with guidance on position sizing, stop-loss orders, and other risk management techniques, helping them to minimize their exposure to market volatility.
Education:
Finally, Cannon Trading Company’s brokers are committed to educating their clients about the futures markets. They offer a variety of educational resources, including webinars, tutorials, and trading guides, to help clients improve their trading skills and make informed decisions about their trades. They also provide clients with regular market analysis and commentary, helping them to stay up-to-date on the latest market trends and news.

Working with a seasoned futures trading broker can change your outlook on how to trade commodities and futures. Cannon Trading Company’s team of brokers possesses the experience, knowledge, and personalized service needed to help clients succeed in the futures markets. They are transparent, efficient, and committed to providing clients with the guidance and support they need to make informed trading decisions. If you’re looking for a futures trading broker that can help you achieve your trading goals, consider working with Cannon Trading Company.

Ready to start trading futures? Call 1(800)454-9572 and speak to one of our experienced, Series-3 licensed futures brokers and start your futures trading journey with Cannon Trading Company today.