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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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Dear Traders,

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In response to the heightened volatility experienced in WTI Crude Oil (CL), E-mini Crude Oil (QM), Brent Last Day Financial Futures (BZ), and associated products, CME Group increased the Dynamic Circuit Breaker Levels as noted below, effective immediately:
• WTI Crude Oil Futures (CL) from 7% to 15%
• E-mini Crude Oil Futures (QM) from 7% to 15%
• Brent Last Day Financial Futures (BZ) from 7% to 15%
Quadruple witching tomorrow….
Futures, futures options, stock options and single stocks all expire tomorrow morning right on the open of the stock market.
Keep in mind that March mini SP and it’s relatives ( mini Dow, mini Nasdaq etc.) EXPIRE tomorrow and cash settle based on special settlement price….Markets can get volatile tomorrow morning right before and around the open.
The March contract will simply cease to trade. If you have not switched to June yet, now is the time…..
To add a little more fuel to the fire….it may get pretty messy if the market is locked limit up or down from the overnight…..
Know the rules, understand current margins, know where the circuit breakers are/ limit moves.
Figure out your max risk.
After you do all that, feel free to trade but jumping in and trying to trade without the basic knowledge above is like jumping into a stormy ocean without a life vest…..
Overnight limit, can’t trade below but can trade above.
-5%
Intra day
-7% Trading Halt 15 mins
-13% Trading Halt 15 mins
-20% Closed for rest of day
Daily Crude Oil chart below for your review! Sign up for the diamonds indicators here! ( red diamond = potential sell)

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

03-20-2020

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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.

Posted in: Future Trading News  

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