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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.


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Top 50 Trading Rules: The Most Common Pitfalls To Avoid When Trading Commodity Futures

Five hundred experienced futures brokers were asked what caused most futures traders to lose money. Their answers reflected the trading experience of more than 10,000 futures traders. You may recognize some of your strengths and weaknesses. Many of the reasons given are very similar from broker to broker. The repetitions stand to demonstrate that, alas, many futures traders lose money for many of the same reasons. Perhaps the statements of these experienced brokers can help you in the sometimes fickle, often intricate, and always interesting marketplace of futures trading.
Here is what they said. 
1. Many futures traders trade without a plan. They do not define specific risk and profit objectives before trading. Even if they establish a plan, they “second guess” it and don’t stick to it, particularly if the trade is a loss. Consequently, they overtrade and use their equity to the limit (are undercapitalized), which puts them in a squeeze and forces them to liquidate positions. Usually, they liquidate the good trades and keep the bad ones.
2. Many traders don’t realize the news they hear and read has, in many cases, already been discounted by the market.Download the PDF and find out what they said.

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



Contract December 2018 SP500 #ES_F Nasdaq100  #NQ_F Dow Jones  #YM_F Mini Russell #RTY_F BitCoin Index #XBT_F
Resistance 3 2933.42 7631.00 26787 1741.20 6978.35
Resistance 2 2926.08 7588.50 26645 1732.70 6745.93
Resistance 1 2920.42 7555.75 26548 1720.30 6575.77
Pivot 2913.08 7513.25 26406 1711.80 6343.35
Support 1 2907.42 7480.50 26309 1699.40 6173.19
Support 2 2900.08 7438.00 26167 1690.90 5940.77
Support 3 2894.42 7405.25 26070 1678.50 5770.61
Contract December Gold #GC_F Dec. Silver #SI-F Nov. Crude Oil #CL-F Dec.  Bonds  #ZB_F Dec.  Euro #6E_F
Resistance 3 1220.8 14.57 72.73 141 20/32 1.1857
Resistance 2 1215.9 14.47 71.78 141  6/32 1.1827
Resistance 1 1212.0 14.37 71.27 140 20/32 1.1791
Pivot 1207.1 14.27 70.32 140  6/32 1.1761
Support 1 1203.2 14.17 69.81 139 20/32 1.1725
Support 2 1198.3 14.07 68.86 139  6/32 1.1695
Support 3 1194.4 13.97 68.35 138 20/32 1.1659
Contract Dec.  Corn #ZC_F Dec. Wheat #ZW_F Nov. Beans #ZS_F Dec. SoyMeal #ZM_F Oct. Nat Gas #NG_F
Resistance 3 351.1 535.4 850.92 317.73 2.98
Resistance 2 348.9 529.3 840.83 313.87 2.96
Resistance 1 347.3 525.9 835.42 311.53 2.93
Pivot 345.2 519.8 825.33 307.67 2.92
Support 1 343.6 516.4 819.9 305.3 2.9
Support 2 341.4 510.3 809.83 301.47 2.87
Support 3 339.8 506.9 804.42 299.13 2.84

Economic Reports, source: 


Date 3:22pm Currency Impact Detail Actual Forecast Previous Graph
ThuSep 20  4:30am GBP
Retail Sales m/m
-0.2% 0.7%
Tentative EUR
Spanish 10-y Bond Auction
Tentative GBP
10-y Bond Auction
8:30am USD
Philly Fed Manufacturing Index
17.5 11.9
Unemployment Claims
210K 204K
10:00am EUR
Consumer Confidence
-2 -2
CB Leading Index m/m
0.5% 0.6%
Existing Home Sales
5.36M 5.34M
10:30am USD
Natural Gas Storage
81B 69B
11:15am EUR
German Buba President Weidmann Speaks

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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