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

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.

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

Cannon Futures Weekly Newsletter Issue # 1146


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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 –

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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!


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.
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
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!!
Sign Up for a Free Personalized Consultation with a Broker from Cannon Trading Company
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
Would you like to receive daily support & resistance levels?

Weekly Levels


  • Trading Reports for Next Week

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















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!
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.
Posted in: Future Trading News  

Trading Expertise As Featured In

Trading Tips You Can Use Right Away!

Watch 4 short videos on the topics of:
  • Using Bollinger Bands and Parabolics
  • Using range Bars for Day-Trading
  • The concept of Price Confirmation
  • How to Use Support & Resistance Levels
  • License 3 Broker at your Fingertips