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Silver Futures Insight 3.17.2016

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1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Thursday March 17, 2016

Hello Traders,

For 2016 I would like to wish all of you discipline and patience in your trading!


A note on Silver by my colleague, John Thorpe who has over 25 years of experience starting on the floor of the CBOT.

Silver Futures

Here is a daily chart with simple moving averages, a 25 day slow  and 10 day fast, the buy signal is still intact. With the fast(red) SMA penetrating the slow (blue) from underneath. RSI in the neutral range.

Daily Silver Futures Chart With Simple Moving Averages

Daily Silver Futures Chart With Simple Moving Averages

A breakout to the upside should take us to 17.00

To the downside  13.40. It will be important for the market to hold  the 15.15 to 15.20 area to signify the turn of a partial decline and impending breakout.

Caveat, we could continue to stay in this range for a meandering time period. If we do, the stronger the move on the breakout.

Silver Futures Chart

Silver Futures Chart

The Following Courtesy of Thomas Bulkowski.       

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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.

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Futures Trading Levels

Economic Reports


All times are Eastern time Zone (EST)

Date 4:42pm Currency Impact Detail Actual Forecast Previous Graph
ThuMar 17  5:00am EUR Italian Trade Balance 4.33B 6.02B
6:00am EUR Final CPI y/y -0.2% -0.2%
EUR Final Core CPI y/y 0.7% 0.7%
EUR Trade Balance 20.2B 21.0B
Tentative EUR Spanish 10-y Bond Auction 1.69|1.9
8:00am GBP MPC Official Bank Rate Votes 0-0-9 0-0-9
GBP Monetary Policy Summary
GBP Official Bank Rate 0.50% 0.50%
GBP Asset Purchase Facility 375B 375B
GBP MPC Asset Purchase Facility Votes 0-0-9 0-0-9
8:30am USD Philly Fed Manufacturing Index -1.4 -2.8
USD Unemployment Claims 267K 259K
USD Current Account -117B -124B
10:00am USD JOLTS Job Openings 5.57M 5.61M
USD CB Leading Index m/m 0.2% -0.2%
10:30am USD Natural Gas Storage -9B -57B

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.


Tags: > > > Posted in: Day Trading   | Future Trading News   | Futures Trading  

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