Trading Futures Spreads + Support & Resistance Levels 7.03.2018

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Trading Futures Spreads – Basic But Important Strategy
By: Mark O’Brien, Cannon Trading Commodities Broker

Over my 20+ year career as a commodities broker, I have studied and traded a wide range of approaches to trading the futures markets.  From candlestick formations to the commodity channel index, from condors to turtle trading, there’s an enormous catalog of tools and methods available for traders to consider.

 One method I have noticed is surprisingly underrepresented among retail traders is futures spread trading, where a single position in the market consists of the simultaneous purchase of one futures contract and sale of a related futures contract as a unit.  I call it surprising because some of the most invested players in futures trading – and arguably the most sophisticated – include large speculators and commercial firms who regularly employ spreads.  This includes traders in the markets who often actually buy and sell the physical commodities we trade.  Farmers, ranchers and other food growers along with food producers, petroleum companies who either drill for oil or natural gas or refine these products – or both, financial institutions with enormous holdings in treasuries, equities or currencies, mining interests and their buyers – all these areas of production and distribution employ spreads from time to time as an important aspect of their businesses.  Indeed, spread trading is a fundamental and essential part of the commodities futures markets.
To read the remaining article on Trading Futures Spreads please click here

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

07-03-2018

Contract September 2018  SP500 #ES_F Nasdaq100  #NQ_F Dow Jones  #YM_F Mini Russell #RTY_F BitCoin Index #XBT_F
Resistance 3 2767.50 7294.42 24697 1694.87 7815.06
Resistance 2 2748.00 7206.83 24510 1677.33 7242.59
Resistance 1 2737.50 7162.67 24399 1668.37 6932.17
Pivot 2718.00 7075.08 24212 1650.83 6359.70
Support 1 2707.50 7030.92 24101 1641.87 6049.28
Support 2 2688.00 6943.33 23914 1624.33 5476.81
Support 3 2677.50 6899.17 23803 1615.37 5166.39
Contract August Gold #GC_F Sept. Silver #SI-F Aug. Crude Oil #CL-F Sept.  Bonds  #ZB_F Sept.  Euro #6E_F
Resistance 3 1266.5 16.49 76.51 145 30/32 1.1827
Resistance 2 1261.1 16.34 75.43 145 21/32 1.1788
Resistance 1 1251.5 16.11 74.67 145  7/32 1.1735
Pivot 1246.1 15.96 73.59 144 30/32 1.1695
Support 1 1236.5 15.73 72.83 144 16/32 1.1642
Support 2 1231.1 15.58 71.75 144  7/32 1.1603
Support 3 1221.5 15.35 70.99 143 25/32 1.1550
Contract Dec.  Corn #ZC_F Sept. Wheat #ZW_F Nov. Beans #ZS_F Dec. SoyMeal #ZM_F Aug. Nat Gas #NG_F
Resistance 3 377.6 521.7 895.92 338.90 2.98
Resistance 2 373.7 513.1 889.33 335.80 2.96
Resistance 1 366.3 496.7 879.42 331.70 2.91
Pivot 362.4 488.1 872.83 328.60 2.88
Support 1 355.1 471.7 862.9 324.5 2.8
Support 2 351.2 463.1 856.33 321.40 2.81
Support 3 343.8 446.7 846.42 317.30 2.76

Economic Reports, source: 

https://www.forexfactory.com

Date 3:32pm Currency Impact Detail Actual Forecast Previous Graph
MonJul 2 3:15am EUR
Spanish Manufacturing PMI
53.4 53.6 53.4
3:45am EUR
Italian Manufacturing PMI
53.3 52.6 52.7
3:50am EUR
French Final Manufacturing PMI
52.5 53.1 53.1
3:55am EUR
German Final Manufacturing PMI
55.9 55.9 55.9
4:00am EUR
Final Manufacturing PMI
54.9 55.0 55.0
EUR
Italian Monthly Unemployment Rate
10.7% 11.1% 11.0%
4:30am GBP
Manufacturing PMI
54.4 54.1 54.3
5:00am EUR
Unemployment Rate
8.4% 8.5% 8.4%
9:45am USD
Final Manufacturing PMI
55.4 54.6 54.6
10:00am USD
ISM Manufacturing PMI
60.2 58.2 58.7
USD
Construction Spending m/m
0.4% 0.5% 0.9%
USD
ISM Manufacturing Prices
76.8 74.3 79.5

 

 

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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