Weekly Newsletter Issue # 1032 - Trading Resources and more! 12.14.2020 - Support & Resistance Levels

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.

Weekly Newsletter Issue # 1032 – Trading Resources and more! 12.14.2020


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Hello Ilan,
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Rollover notice: Front month for stock index futures ( es/ym/nq/micros etc.) as well as currencies is now MARCH.
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Opportunities and Risk, an Educational Guide to Trading Futures and Options
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NASDAQ 100 Futures
Daily chart of NASDAQ100 futures ( NQ and the MICRO MNQ) below for your review.
March is now the FRONT month. NQH21.
While volatility is not as high as it was in March / April, we are still witnessing very large moves both ways.
Current trend is up but market looks a bit overbought and ready for a possible correction. Please see chart for potential support and resistance levels.
With the high volatility we are seeing, I would highly recommend looking at the MICRO contracts including the MICRO NQ which is 1/10th the size of the mini NASDAQ. The symbol is MNQ and you can read more about the MICROS 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 when it comes to Futures Trading.


Futures Trading Levels


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.

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