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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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Wow! August started out with a very volatile session across the board!
Following the 0.25 rate cut, stock indices started off with a strong rally while metals were selling off, especially Palladium!
Around Central time, President Trump twitted about China tariffs and the result was a fast and furious sell off across the energy sector, grains, followed by a reversal on stock indices to the down side and reversal in gold to the upside.
That was an interesting session to say the least!!
Crude oil dropped over a $1 in less than 4 minutes and over $2.4 in 15 minutes….just one example.
be aware of volatility and when it changes be ready to adjust your trading as well. If you need a reminder why one should trade with stops, these moves definitely provided one.
A look at the mini Russell below, I think that if we can close tomorrow below 1544, it may be a strong bearish signal – my opinion.

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.

 

Futures Trading Levels

08-02-2019


Economic Reports, source: 

bettertrader.co

 

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.

Posted in: Future Trading News  

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