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Tag: crude oil

Pay Attention to Energy Futures & Support and Resistance Levels 9.29.2021

Posted on by Ilan

Dear Traders,

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Pay Attention to Energy Futures

(There’s More to Trading Than the S&P 500, Nasdaq and Dow Jones)
By Mark O’Brien, Senior Broker
Every country in the world depends on energy. For some, energy production is the backbone of their economies. Energy products as a percentage of all that a country exports can be as high as 90% or more. Kuwait, Libia and Iraq are notable examples. For others, energy is a scarce resource within their borders making it necessary to import it. Countries like South Korea, Ireland and Japan import over 80% of their needed energy. Governments, multinational corporations, international consortiums (think OPEC) often vigorously compete for control of energy production and distribution – and the revenue that comes from them. Energy resources have literally fueled wars for their control. Without doubt, oil, its refined products and natural gas are among the world’s most valued commodities.
Not surprisingly, energy futures contracts like crude oil, heating oil, unleaded gas and natural gas are some of the largest futures contracts in the world by volume. The CME Group’s NYMEX Exchange offers trading on some of the energy sector’s benchmark products, including West Texas Intermediate (WTI) Crude, Henry Hub Natural Gas, Brent Crude and RBOB Gasoline.
Like stock index futures, energy futures trade 23 hours a day (5:00 P.M. – 4:00 P.M., Central Time), Sunday through Friday. Both crude oil and natural gas offer mini contracts and crude oil even offers a micro contract.
If you’re trading is solely focused on stock indexes, think about adding energy futures to your watch list and expanding your trading power (pun intended) with energy futures contracts.

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

9-30-2021

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Economic Reports, source: 

 www.BetterTrader.co

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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.

Weekly Newsletter 1068: Day Trading Mind Traps & Intro to Crude Oil Futures Course & Trading Levels for the Week Ahead 9.27.2021

Posted on by Ilan

Cannon Futures Weekly Letter Issue # 1068

Dear Traders,

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Day Trading Mind Traps

“One way our brain helps keep us safe is to protect us from an awareness of our weaknesses. The brain believes that it is better to be falsely confident than recognize the real risks. This protective mechanism tends to work against us in trading.” Kenneth Reid, Ph.D
MINDING THE MIND
The mind can play tricks on us. Intuitive Trading is an attempt to mind read the market, which makes us susceptible to whipsaws. Hindsight Bias causes traders to underestimate the difficulty of trading, while Competency Bias causes us to over-estimate our abilities. These are mental banana peels that set us up for a fall.
INTUITIVE TRADING
Intuitive trading is a natural response to excessive randomness and non-linearity in the market. But making informed guesses is not the same as formulating a rule-based pattern-recognition system that gives a trader a true edge. Without a rule-based plan, intuitive traders expend a great deal of energy mindreading the market, which will not improve your odds of success. In fact, professional traders make a good living exploiting the emotionally-driven behavior of intuitive amateurs.

Watch a recording of a recent webinar held with Bookmap on the topics of:

  • Order Flow
  • Where are the large orders?
  • Heat Map?
  • Tools for day-traders
  • More….
Crude Oil Futures

Trading 101: Free Course – An Introduction to Crude Oil

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

09-27-2021

Futures Trading Support and Resistance Levels 9.27.2021

 

Weekly Levels

Futures Support and Resistance Levels

 

Trading Signals for commodities

Reports, First Notice (FN), Last trading (LT) Days for the Week:

https://mrci.com

Date Reports/Expiration Notice Dates

Futures Economic Reports

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

Weekly Newsletter #1053 Trading Signals Directly to your Inbox, Crude Oil Recap & Trading Levels for Week Ahead 6.7.2021

Posted on by Ilan

Cannon Futures Weekly Newsletter Issue # 1053

Dear Traders,

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Get Real Time updates and market alerts on Twitter!
Get Real Time updates and more on our private FB group!

VAREA Signal Trading Alerts

Directly to your Inbox!

  • A dynamic research tool for Futures traders based on revolutionary algorithmic IP. Experienced management team has combined decades of trading experience with superior programming capability to produce this unparalleled algorithmic trading product.
  • Daily email to traders identifying trading opportunities (signals) on more than 20 specific tickers per a discrete set of rules and conditions/algorithms.
  • Packages are signals only (Basic, $99/month) or signals with execution suggestions by VAREA trading specialists (Premium, $199/month) and get a free month of the Premium product when you sign up. Contact your broker for implementation instructions to get you started.
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Market Pick Review for the Week:

Crude Oil Weekly Chart
The market trading against resistance on the weekly chart. Failure at these levels can generate a quick sell off, a break above $70 can trigger the next leg up.
Crude Oil Weekly Chart
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

6-7-2021

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Weekly Levels

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Reports, First Notice (FN), Last trading (LT) Days for the Week:

https://mrci.com

Date Reports/Expiration Notice Dates

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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 herein 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

Weekly Newsletter #1044 Day Trading Commodities with Crude Oil Futures & Trading Levels for Week Ahead 3.22.2021

Posted on by Ilan

Cannon Futures Weekly Newsletter Issue # 1044

Dear Traders,

Like us on FaceBook!
Get Real Time updates and market alerts on Twitter!
Get Real Time updates and more on our private FB group!
Trading 102: 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 1000 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..Fill out the form below to read the full article.
Weekly chart of Crude Oil futures for your review below. Click here for Larger image.
Crude Oil Weekly Chart
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

3-22-2021

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Weekly Levels

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Reports, First Notice (FN), Last trading (LT) Days for the Week:

https://mrci.com

Date Reports/Expiration Notice Dates

MRCI Reports

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 herein 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

Top 3 Factors in Making a Good Trader + Trading Levels 5/18/18

Posted on by Ilan

____________________________________________________________________

Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!  

____________________________________________________________________

Dear Traders,
Not a busy Friday morning ahead with reports but more than a few fed Speakers schedules to speak tomorrow which can move the markets.
#CL_F Crude oil has traded more volume than the mini SP for the last few days!! heads up.
Keys to Successful Trading:
My colleagues and I were discussing trading methods, techniques and more today in the office. Each of us had an idea as to why such a small percent of traders “makes it ” in the trading business….
I decided to reach out to you and ask you: What do you think are the TOP 3 factors that separates the “men from the boys” in the field of trading?
Feel free to share if you were “able to turn around your trading”, still trying, surviving etc.
To make it easy, simply just hit reply and share your thoughts. We will tabulate and try to analyze the data in hopes of sharing some good insights with all of you.
Thank you in advance!

Continue reading “Top 3 Factors in Making a Good Trader + Trading Levels 5/18/18”

Saudi Arabia, Crude Oil and Futures Trading Levels for 11.30.2017

Posted on by Ilan

____________________________________________________________________

Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!  

____________________________________________________________________

Dear Traders,

Front month for Silver and most grains is now March.

Front month for gold is now February.

Front month for bonds and other interest futures is now March 2018. 

Saudi Arabia: Turbulence on the Horizon?

  • 21 Nov 2017
  • By Erik Norland
  • Topics: Economic Events

There is considerable change underway in Saudi Arabia, from how the country is governed and managed to an even more activist role in the politics of the volatile Middle East. Options markets, however, appear to be almost entirely unconcerned about recent developments in the country, the world’s largest exporter of crude oil and a key U.S. ally in the Middle East.

At-the-money implied volatility on West Texas Intermediate (WTI) Crude Oil options has been trading near its lowest point since late 2014 and is well below its long-term average.  For example, on November 17, 90-day WTI options closed at 23% implied volatility, well below their 31% average so far this decade (Figure 1).  Are markets too complacent in the face of potential political disruption in Saudi Arabia and its neighboring countries. READ THE REST

Continue reading “Saudi Arabia, Crude Oil and Futures Trading Levels for 11.30.2017”

Getting Stopped Out on the Highs and Lows? Read This Article….11-18-2016

Posted on by Ilan

Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.

Like us on FacebookFollow us on TwitterView our profile on LinkedInFind us on Google+Cannon Trading Futures Trading Resistance & Support Levels and Economic ReportsFind us on Yelp

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 Friday November 18, 2016

Greetings!

Dear Traders,

Many of you shared with me how frustrated you get when you get stopped out only to see the market goes back to where you wanted it to or positioned for….

This article by my colleague John Thorpe, talks about using weekly mini SP 500 options and can be applied to  gold, bonds, crude oil and other markets that have weekly options.  Must read.

Weekly Mini S&P option contracts

There are 100’s of indicators available to traders to assist with decision making that can be applied to technical analysis, which is precisely the reason to utilize a sound and inexpensive weekly ES strategy to compliment a day trading strategy.

There are two main uses for the Weekly options
  1. As a hedge, no need for stops
  2. As a pure speculation. A relatively inexpensive way to speculate on market direction in a time frame that can be for minutes, hours or a few days without the need to use stops.

Read the full article!

Continue reading “Getting Stopped Out on the Highs and Lows? Read This Article….11-18-2016”

Crude Oil Volatility and Chart 9.29.2016

Posted on by Ilan

Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.

Like us on FacebookFollow us on TwitterView our profile on LinkedInFind us on Google+Cannon Trading Futures Trading Resistance & Support Levels and Economic ReportsFind us on Yelp

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 September 29, 2016

Greetings!

What a volatile day in the energy sector…..

We started with the energy report sending prices much lower only to get some reports on agreement between some of the oil producing countries to limit production…..

Buy the rumor sell the fact?

time will tell but if you are trading energies be aware of the news and adjust your trading as volatility expands like it just did…..

Daily chart of Crude Oil for fun….

Crude Oil Chart

Crude Oil Numbers Tomorrow 9.28.2016

Posted on by Ilan

Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.

Like us on FacebookFollow us on TwitterView our profile on LinkedInFind us on Google+Cannon Trading Futures Trading Resistance & Support Levels and Economic ReportsFind us on Yelp

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 Wednesday September 28, 2016

Greetings!

We have a full day tomorrow!

Crude Oil numbers, Fed. members speaking, Draghi speaking, durable goods….

I wrote before on trading or not trading during big numbers.
Each of you is a different person, different trader and hence the importance of keeping a personal trading journal. If you trade crude oil, you will be able to look back at your journal and decide if to trade or not during crude numbers and read from past weekly reprots which will greatly help you preparing for tomorrow report.

Crude Oil Outlook 8.26.2016

Posted on by Ilan

Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.

Like us on FacebookFollow us on TwitterView our profile on LinkedInFind us on Google+Cannon Trading Futures Trading Resistance & Support Levels and Economic ReportsFind us on Yelp

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 Friday August 26, 2016

Hello Traders,

Greetings!

Crude Oil Futures Are Reaching a Decision Point
I like the potential of being bullish on crude oil futures for next few weeks! Here are a few ways you can do this:

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Crude oil futures have been providing quite a bit of excitement the last few months. Most traders, myself included, like excitement when it comes to trading. It means two things: opportunities and risks.

The recent pullback in crude oil future prices present a buying opportunity, in my opinion.

Looking at the daily chart of crude oil below, you will see that I marked what I feel should be a support level for resumption of the upside move.

Read the Rest of the article along with charts here

Continue reading “Crude Oil Outlook 8.26.2016”

RISK DISCLOSURE: Past results are not necessarily indicative of future results. The risk of loss in futures trading can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition.