Sell off In Bitcoin & Support and Resistance Levels 5.18.2021 - Support & Resistance Levels

Support & Resistance Levels

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Sell off In Bitcoin & Support and Resistance Levels 5.18.2021

Dear Traders,

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Sell off in Bitcoin, rally in gold and silver, very choppy action in stock indices to start the week.
Some of our morning excerpt below for a different type of insight into the markets – join our FB group for free to view these updates in real-time at https://www.facebook.com/groups/1105191589938254 :
GOOD MORNING.
NO NUMBERS THIS MORNING
TOMORROW
HOUSING STARTS & PERMITS
Money managers again had strong hands in looking for any weakness to buy. With the LONG END of the interest rate at negative and the FED’s Q.E. of
$80 billion a month / $1.44 TRILLION for the year, they’re forcing money managers to take risk. The only place for returns now is equities. Also the 1st nine to 12 months of inflation is positive for equities, then they turn the lights out.
The FED also has the stimulus money as an undercurrent for now.
M S&P
4159.50 OBJECTIVE has been met.
LOW was 4105.25 ****
Friday’s SUPPORT was 4106.25 ****
SUPPORT 4162.00
4093.75
CRITICAL KEY SUPPORT!!
CLOSE BELOW TRIGGERS
4017.50
MASSIVE SUPPORT
3976.75
M S&P
RESISTANCE:
4245.50
4217.25 Buy SCO
4193.00
M S&P Closed 4169.00 +62.00
SUPPORT:
4095.25
4067.25 Sell SCO
4034.75
M S&P
FIBONACCI RETRACEMENTS:
4238.25 to 3710.50
38.2% = 4037.00 *****
50.0% = 3974.50
61.8% = 3912.25
Money flow for M S&P’S:
Negative= N / Positive= P
M CRUDE -0.13 / Neutral
N COPPER +2.45 / P
M BONDS +0.01 / Neutral
M YEN + 0.155 / N
M PALLADIUM +2.40 / P
M US$ – 0.093 / P
M NASDAQ
MAJOR RESISTANCE 13,257.25
CLOSE ABOVE TRIGGERS SHORT COVERING UP TO 13,367.50
KEY RESISTANCE 13,523.00
MAJOR RESISTANCE 13,674.09
KEY PIVOT 13,368.75
M NASDAQ
RESISTANCE:
13,997.00
13,855.50 Buy SCO
13,733.75
M NASDAQ Closed 13,387.00 +286.75
SUPPORT:
13,318.50
13,217.75 Sell SCO
13,100.50
M NASDAQ
FIBONACCI RETRACEMENTS:
14,064 to 12,200
38.2% = 13,348.50
50.0% = 13,128.25
61.8% = 12,908.00 / LOW 12,915
Important: Trading commodity futures and options involves a substantial risk of loss.
The recommendations contained in this letter are of opinion only and do not guarantee any profits.
There is not an actual account trading these recommendations.
Past performances are not necessarily indicative of future results.

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

5-18-2021

Economic Reports, source: 

 www.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.

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