Star Awards, Crude Oil Futures & Economic Reports 12.10.2014

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.

Star Awards, Crude Oil Futures & Economic Reports 12.10.2014

Hello Traders,

For 2014 I would like to wish all of you discipline and patience in your trading!

Hello Traders,

Our blog is nominated for the STAR award once again!

Trader Planet Competition

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Please vote for our blog at:

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Daily Futures Trading Levels and Insight  as your first place and submit at bottom of the page!

Day Trading Commodities with Crude Oil Futures

Crude Oil Futures volatility offers a “different market personality” than stock index futures. Here is some of the things you need to know about day trading crude oil futures:

By: Ilan Levy-Mayer, Cannon Trading Commodities Broker & VP

Crude Oil is one of MY favorite futures market for day trading. Before I dive in and share with you how the volatility in crude oil fits my risk tolerance for day trading and provide a couple of chart examples, we should review some of the specifications of Crude Oil Futures

Crude Oil Futures have monthly expiration. So each month we trade a different contract month, so one needs to know when is the first notice day and last trading day for crude oil futures in order to always make sure we are trading the proper month with the most liquidity and avoid any chance of getting into delivery situation.

Next is the contract size. Crude Oil futures are based on 100,000 barrels. To be honest from a day trading perspective all I care is that each tick or 1 cent fluctuation is $10 against me or in my favor per contract. That means that a move from 92.94 to 92.74 = $200.

Another factor is trading hours. At the time I am sharing my thoughts with you, April 8th 2013, crude oil futures trade on the CME Globex platform and trade from 5 PM CDT until the next day at 4 PM CDT. That is 23 of straight trading hours. I definitely don’t recommend day trading this market 23 hours…but it is good to know the trading hours.

Volume in crude oil futures is pretty good to trade in my opinion. Averaging about 300,000 contracts per day.

One last pointer to touch on is the API (American Petroleum Institute) report that normally comes out Wednesday at 9:30 CDT (on short weeks, holidays etc. , this report will be pushed to Thursday at 10 AM CDT). I tell my clients that this report is way too volatile and I like to be out 5 minutes before and not resume trading 5 minutes until after the report comes out. This report by itself deserves a writing but on short, the report provides information on how our stock pile is doing ( = supply/demand)  and the market will move based on the numbers versus what was expected. Again as a day trader, your main job is to know about this report, when it comes out and in my opinion stay out of the market during this time..

Read the rest along with chart samples here



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. Past performance is not indicative to future results.

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Futures Trading Levels

Contract Dec. 2014 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 2097.58 4402.17 18145 1234.10 90.41
Resistance 2 2079.92 4350.33 18009 1211.20 89.85
Resistance 1 2068.58 4320.42 17895 1198.00 89.29
Pivot 2050.92 4268.58 17759 1175.10 88.72
Support 1 2039.58 4238.67 17645 1161.90 88.16
Support 2 2021.92 4186.83 17509 1139.00 87.60
Support 3 2010.58 4156.92 17395 1125.80 87.04
Contract Feb. Gold Mar.Silver Jan. Crude Oil Mar. Bonds Dec. Euro
Resistance 3 1286.1 18.37 66.60 144 19/32 1.2607
Resistance 2 1262.5 17.80 65.40 144 4/32 1.2529
Resistance 1 1246.6 17.43 64.65 143 24/32 1.2450
Pivot 1223.0 16.86 63.45 143 9/32 1.2372
Support 1 1207.1 16.49 62.70 142 29/32 1.2293
Support 2 1183.5 15.92 61.50 142 14/32 1.2215
Support 3 1167.6 15.55 60.75 142 2/32 1.2136
Contract March Corn March Wheat Jan. Beans Jan. SoyMeal Jan. bean Oil
Resistance 3 403.8 594.5 1060.25 384.70 32.86
Resistance 2 399.9 592.8 1054.75 380.30 32.55
Resistance 1 397.6 589.3 1052.00 377.80 32.27
Pivot 393.7 587.5 1046.50 373.40 31.96
Support 1 391.3 584.0 1043.8 370.9 31.7
Support 2 387.4 582.3 1038.25 366.50 31.37
Support 3 385.1 578.8 1035.50 364.00 31.09


Economic Reports


All times are Eastern time Zone (EST)


Date Currency Impact Detail Actual Forecast Previous Graph
WedDec 10  1:30am EUR French Final Non-Farm Payrolls q/q -0.2% -0.2%
2:45am EUR French Industrial Production m/m 0.2% 0.0%
10:30am USD Crude Oil Inventories -2.6M -3.7M
1:01pm USD 10-y Bond Auction 2.37|2.5
2:00pm USD Federal Budget Balance -68.3B -121.7B   

his 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 judgment in trading. 

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Tags: > > Posted in: Commodity Trading   | Crude Oil   | Day Trading   | Future Trading News   | Futures Trading   | Trading Guide  

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