Trading Week Starts with Strong Sell off – FOMC this Week
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
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Fed Likely to Sidestep Trade War to Raise Rates on March 21
- 12 Mar 2018
- By Bluford Putnam
- Topics: Economic Events, Interest Rates
The trade war that could stem from U.S. tariffs on steel and aluminum is unlikely to affect GDP, freeing the Fed to raise rates at its March 21 meeting.
Watch Video: http://www.cmegroup.com/education/featured-reports/fed-likely-to-sidestep-trade-war-to-raise-rates-on-march-21.html
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
3-20-2018
| Contract June 2018 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | BitCoin Index |
| Resistance 3 | 2809.33 | 7236.67 | 25446 | 1627.33 | 9350.00 |
| Resistance 2 | 2782.92 | 7139.83 | 25215 | 1608.77 | 9035.00 |
| Resistance 1 | 2750.08 | 7014.92 | 24923 | 1592.13 | 8730.00 |
| Pivot | 2723.67 | 6918.08 | 24692 | 1573.57 | 8415.00 |
| Support 1 | 2690.83 | 6793.17 | 24400 | 1556.93 | 8110.00 |
| Support 2 | 2664.42 | 6696.33 | 24169 | 1538.37 | 7795.00 |
| Support 3 | 2631.58 | 6571.42 | 23877 | 1521.73 | 7490.00 |
| Contract | Apr. Gold | May Silver | May Crude Oil | June Bonds | Mar. Euro |
| Resistance 3 | 1334.1 | 16.52 | 63.63 | 145 21/32 | 1.2570 |
| Resistance 2 | 1326.8 | 16.43 | 63.04 | 145 6/32 | 1.2508 |
| Resistance 1 | 1321.9 | 16.37 | 62.64 | 144 24/32 | 1.2467 |
| Pivot | 1314.6 | 16.29 | 62.05 | 144 9/32 | 1.2405 |
| Support 1 | 1309.7 | 16.23 | 61.65 | 143 27/32 | 1.2365 |
| Support 2 | 1302.4 | 16.14 | 61.06 | 143 12/32 | 1.2303 |
| Support 3 | 1297.5 | 16.08 | 60.66 | 142 30/32 | 1.2262 |
| Contract | May Corn | May Wheat | May Beans | May SoyMeal | Apr. Nat Gas |
| Resistance 3 | 381.2 | 467.7 | 1042.67 | 382.30 | 2.77 |
| Resistance 2 | 379.8 | 464.1 | 1038.33 | 377.40 | 2.74 |
| Resistance 1 | 377.4 | 457.4 | 1030.42 | 368.00 | 2.70 |
| Pivot | 376.1 | 453.8 | 1026.08 | 363.10 | 2.67 |
| Support 1 | 373.7 | 447.2 | 1018.2 | 353.7 | 2.6 |
| Support 2 | 372.3 | 443.6 | 1013.83 | 348.80 | 2.60 |
| Support 3 | 369.9 | 436.9 | 1005.92 | 339.40 | 2.56 |
Economic Reports, source:
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.
