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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.

Dear Traders,

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CME Group has removed the trading halt between 3:15 and 3:30 p.m. CT on CME Globex for Equity Index products.
Here is what our private Facebook members ( private group – free to join)
saw this morning before the open. These past few weeks Al was able to provide guidance with the uptrend both in Crude and SP 500 with very accurate support levels as well as targets. You can join the private group at:
07.07.21 Wednesday insight by Al Bicoff
SCO = STOP CLOSE ONLY
MA= MOVING AVERAGE
GOOD MORNING.
The BOND market continues to signal
DEFLATIONARY PRESSURES which is spooking & confusing the EQUITY market again. Paradoxically, with the Interest rates racing to new lows, the money managers are desperate and struggle to generate yield, which is BULLISH for EQUITIES in the end. It’s the only game in town.
LOWER rates have a BULLISH UNDERTONE for TECHNOLOGY, hence the NASDAQ closing higher yesterday as the DOW and S&P’S closed LOWER.
U S&P
4377.00 is the next OBJECTIVE until
a close below 4300.25 occurs.
KEY MA 4253.75
Bullish undertone above
KEY TREND MA 4209.00
CLOSE BELOW DAMAGES the
SECULAR Bull TREND.
4137.50 is MASSIVE MA SUPPORT
CRITICAL MA SUPPORT!!
4082.00
MUST HOLD!!
U S&P Closed 4334.00 -8.75
ALGO SUPPORT:
4308.50
4300.50 Sell SCO
4291.75
U NASDAQ
LOWER BOND YIELDS POWERING
NASDAQ HIGHER!!
MA SUPPORT:
14,268.00
Bullish bias above
KEY MA SUPPORT
13,891.00 ******
Secular Bull Trend
MUST HOLD!!
MASSIVE MA SUPPORT
13,694.50
CRITICAL MA MUST HOLD!!
13,567.00
U NASDAQ
Closed 14,775.50 +61.75
ALGO SUPPORT:
14,561.00
14,520.00 Sell SCO
14,474.50
Q CRUDE Closed $73.37 -1.79
Q CRUDE
ALGO RESISTANCE:
74.55
73.99 Buy SCO
73.51
72.38 Key MA
69.32 CRITICAL MA
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.
Micro WTI Crude Oil future
Webinar Invite: Cannon Trading & CME Group invites you to attend an online event on Wednesday July 14, to learn more about Micro WTI Crude Oil futures, a new tool for managing crude oil price exposure launching on July 12.

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

7-08-2021

Options On Futures

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 as well as options on futures.

Posted in: Future Trading News  

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  • The concept of Price Confirmation
  • How to Use Support & Resistance Levels
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