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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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Dryness Extensive Across Southern Plains Wheat Belt

Moisture levels have remained very low across the majority of the hard red wheat belt in the central Plains throughout the winter, with moderate drought now widespread across eastern Colorado into central Oklahoma, and severe to extreme drought located in southern Kansas, Oklahoma, and much of central and northwestern Texas (see map below).

The outlook for the next few weeks shows an upturn in moisture across the northern Plains, with Colorado and Nebraska likely to see some notable improvements in moisture in the form of snowfall. Meanwhile, moisture receipts will likely remain below normal across south central Kansas into west central Oklahoma and northwestern Texas. While moisture needs this time of year are very low for wheat as it remains in dormancy, an upturn in moisture will be critical for these areas once it emerges from dormancy.

However, a drier pattern is expected to continue across the majority of the region in March, which will likely result in some significant stress as spring crop growth resumes. An upturn in rains is possible across the heart of the hard red wheat belt in April, though, which should begin to improve moisture supplies and crop conditions. The rains will be critical to prevent substantial yield reductions for the wheat crop.

By: Don Keeney
Senior Ag Meteorologist
Radiant Solutions  Read More with charts and other data at: http://pages.cmegroup.com/index.php/email/emailWebview

With the recent volatility the CME have raised some of the overnight margins for stock index futures.

Most of our clients enjoy $500 daytrading margins for the contracts below, depending on the platform and in rare cases market conditions. Few of the trading platforms will use % of overnight margins and/or  if you plan on holding positions more than intraday than note below:

ES was $5,555 –> now $6,105

NQ, $5,720 –> $6,380

YM, $4,620 –> $5,280

RTY, $3,245 –> $3,630

NKD, $4,565 –> $5,280


Plan your trade, trade your plan and ALWAYS try to asses the risk/ reward ratio you are about to trade.

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 March 2018  SP500 Nasdaq100 Dow Jones Mini Russell BitCoin Index
Resistance 3 2770.33 6845.67 25789 1547.97 9813.33
Resistance 2 2728.42 6732.08 25359 1529.93 9251.67
Resistance 1 2660.83 6528.17 24661 1499.17 8768.33
Pivot 2618.92 6414.58 24231 1481.13 8206.67
Support 1 2551.33 6210.67 23533 1450.37 7723.33
Support 2 2509.42 6097.08 23103 1432.33 7161.67
Support 3 2441.83 5893.17 22405 1401.57 6678.33
Contract Apr. Gold Mar. Silver Mar. Crude Oil Mar.  Bonds Mar.  Euro
Resistance 3 1342.4 16.69 63.40 146  9/32 1.2401
Resistance 2 1333.4 16.56 62.74 145 20/32 1.2362
Resistance 1 1326.9 16.45 61.58 144 30/32 1.2317
Pivot 1317.9 16.32 60.92 144  9/32 1.2279
Support 1 1311.4 16.22 59.76 143 19/32 1.2234
Support 2 1302.4 16.09 59.10 142 30/32 1.2195
Support 3 1295.9 15.98 57.94 142  8/32 1.2150
Contract Mar.  Corn Mar. Wheat March Beans Mar. SoyMeal Mar. Nat Gas
Resistance 3 370.4 469.6 1014.83 358.73 2.82
Resistance 2 369.1 464.9 1005.42 352.37 2.79
Resistance 1 367.4 460.6 996.58 347.03 2.74
Pivot 366.1 455.9 987.17 340.67 2.71
Support 1 364.4 451.6 978.3 335.3 2.7
Support 2 363.1 446.9 968.92 328.97 2.63
Support 3 361.4 442.6 960.08 323.63 2.59

Economic Reports, source: 


Economic Reports - Friday, Feb 9th

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.

Tags: > > > Posted in: Future Trading News   | Index Futures  
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