Open An Account
Free Demo Account Subscribe Here

Risk OFF Behavior, December KC Wheat, Levels, Reports; Your 4 Urgent Must-Knows for Trading Futures on November 5th, 2025

Posted on November 4, 2025 by Cannon Operations

Risk OFF

By John Thorpe, Senior Broker

At-a-Glance Levels

Instrument	S2	S1	Pivot	R1	R2
Gold (GC) — Dec (GCZ5)	3886.10	3916.00	3967.00	3996.90	4047.90
Silver (SI) — Dec (SIZ5)	45.85	46.37	47.17	47.68	48.48
Crude Oil (CL) — Dec (CLZ5)	59.35	59.86	60.44	60.95	61.53
Dec. Bonds (ZB) — Dec (ZBZ5)	116 26/32	117 3/32	117 11/32	117 20/32	117 28/32

All but 1 of the rationale followed the playbook today.

And by the way the U.S. Dollar has continued its break from a 5-month long range and is continuing to rally, we are over par as of this writing: Dec US Dollar index 100.35 With risk off in play on this Election Day, and gold not rallying, we can only come to the conclusion the rally in the Gold market was overdone albeit, remaining at an elevated , flight to quality in the face of uncertainty at a continued high price level.

Tomorrow is day 37 of “The Mother of all Shutdowns”!

Historically, U.S. government shutdowns have had a minimal and short-lived impact on financial markets. While short-term volatility is possible, markets tend to focus on broader economic fundamentals such as corporate earnings and interest rates and generally recover quickly once the government reopens.

But why the Risk off mode? And for how long?

I’ll address those in this coming Friday’s Next Week segment after we gather more data.

December KC Wheat

December KC Wheat is approaching the third upside PriceCount objective off the October low to the $5.37 area. It would be normal for the chart to react in the form of a near term consolidation or corrective trade from this level. IF the chart can sustain further strength, we are left with the low percentage fourth count to the $5.98 area to aim for.

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.

Daily Levels for Nov. 5th, 2025

Want to feature our updated trading levels on your website? Simply paste a small code, and they’ll update automatically every day!

Click here for quick and easy instructions.

Economic Reports

U.S. government data may be impacted by the shutdown. ‘Tentative’ events are subject to delay, revision, or cancellation

provided by: ForexFactory.com

All times are Central Time ( Chicago)

Find us on Trustpilot

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.