Trade War Trade Options + Support & Resistance Levels 7.10.2018

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Trade war Trade Options

In the 2016  presidential election, Donald Trump’s two main issues were immigration and unfair trade practices. Immigration has continued to be a hot issue since President Trump was inaugurated in January of 2017. The Perdue-Cotton bill arguing on behalf of favoring skilled workers as immigrants led the news for a while.
The Deferred Action for Childhood Arrivals (DACA) fix that looked like it was going to sail through before it was derailed is yet another example. Lastly, the border wall has been a constant source of debate. It does appear to be all talk, however. Congress only appropriated only $1.6 billion for the construction of the wall.
The issue of unfair trade practices seemed to be dead in the water. Trump’s economic team’s history was cool to the idea of tariffs. Every time the President brought up the subject they were able to diffuse the subject. Peter Navarro, a trade war champion, was able to circumvent the President’s economic team and get Trump’s ear. On March 8, 2018, Trump announced a 10% tariff on imported aluminum and a 25% tariff on imported steel. This was good for steel and aluminum producers but not so great for the manufacturers who used steel and aluminum.

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.

Futures Trading Levels

07-10-2018

Contract September 2018  SP500 #ES_F Nasdaq100  #NQ_F Dow Jones  #YM_F Mini Russell #RTY_F BitCoin Index #XBT_F
Resistance 3 2818.58 7374.67 25218 1720.23 7144.62
Resistance 2 2802.42 7334.08 25004 1714.47 6954.73
Resistance 1 2794.08 7313.42 24882 1711.53 6831.96
Pivot 2777.92 7272.83 24668 1705.77 6642.07
Support 1 2769.58 7252.17 24546 1702.83 6519.30
Support 2 2753.42 7211.58 24332 1697.07 6329.41
Support 3 2745.08 7190.92 24210 1694.13 6206.64
Contract August Gold #GC_F Sept. Silver #SI-F Aug. Crude Oil #CL-F Sept.  Bonds  #ZB_F Sept.  Euro #6E_F
Resistance 3 1276.8 16.47 75.87 146 13/32 1.1900
Resistance 2 1271.8 16.36 75.07 146  5/32 1.1876
Resistance 1 1265.6 16.26 74.58 145 20/32 1.1842
Pivot 1260.6 16.16 73.78 145 12/32 1.1817
Support 1 1254.4 16.06 73.29 144 27/32 1.1783
Support 2 1249.4 15.95 72.49 144 19/32 1.1759
Support 3 1243.2 15.85 72.00 144  2/32 1.1725
Contract Dec.  Corn #ZC_F Sept. Wheat #ZW_F Nov. Beans #ZS_F Dec. SoyMeal #ZM_F Aug. Nat Gas #NG_F
Resistance 3 374.9 519.2 900.58 347.00 2.91
Resistance 2 371.8 515.3 892.67 342.20 2.89
Resistance 1 369.4 511.7 882.33 335.00 2.86
Pivot 366.3 507.8 874.42 330.20 2.84
Support 1 363.9 504.2 864.1 323.0 2.8
Support 2 360.8 500.3 856.17 318.20 2.79
Support 3 358.4 496.7 845.83 311.00 2.76

Economic Reports, source: 

http://app.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.

Posted in: Future Trading News  

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