{"id":1504,"date":"2011-05-25T00:07:37","date_gmt":"2011-05-25T00:07:37","guid":{"rendered":"http:\/\/www.cannontrading.com\/daily\/?p=1504"},"modified":"2014-09-10T22:09:47","modified_gmt":"2014-09-11T06:09:47","slug":"futures-trading-levels-market-consolidation-and-crude-oil-inventories","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/futures-trading-levels-market-consolidation-and-crude-oil-inventories\/","title":{"rendered":"Futures Trading Levels, Market Consolidation and Crude Oil Inventories"},"content":{"rendered":"

Cannon Trading \/ E-Futures.com<\/p>\n

Yesterday I wrote:<\/p>\n

“If we break todays low of 1310.75, I will favor a move down to 1290. On the other hand if we can hold this level, we may see a bounce to 1326”.<\/p>\n

Well…..we had an inside day trading within the range of the previous day, that means market took a bit to consolidate before deciding on the next leg. The Million $$ question is which way…..so far we have been making lower lows and lower highs over the past couple of weeks<\/p>\n

Daily chart of Mini SP 500 along with some levels to be aware of, for your review below:<\/p>\n

GOOD TRADING!<\/p>\n

Daily mini S&P trading chart screenshot from today May 24th 2011<\/h2>\n

\"Stock<\/p>\n

TRADING LEVELS!<\/h2>\n

\"Commodity<\/p>\n

Economic Reports Wednesday May 25th, 2011<\/h2>\n

FOMC Member Plosser Speaks
\n3:30am USD<\/p>\n

Core Durable Goods Orders m\/m
\n8:30am USD<\/p>\n

Durable Goods Orders m\/m
\n8:30am USD<\/p>\n

OFHEO HPI m\/m
\n10:00am USD<\/p>\n

Crude Oil Inventories
\n10:30am USD<\/p>\n

FOMC Member Kocherlakota Speaks
\n1:30pm USD<\/p>\n

Treasury Currency Report
\nTentative USD<\/p>\n

Economics Report Source: http:\/\/www.forexfactory.com\/calendar.php<\/a><\/em><\/p>\n

\"\"<\/p>\n

This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc.<\/a> Any statement of facts herein 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 judgment in trading!<\/p>\n","protected":false},"excerpt":{"rendered":"

Cannon Trading \/ E-Futures.com Yesterday I wrote: “If we break todays low of 1310.75, I will favor a move down to 1290. On the other hand if we can hold this level, we may see a bounce to 1326”. Well…..we had an inside day trading within the range of the previous day, that means market […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[119,67,61],"tags":[357,450,16,144,456],"class_list":["post-1504","post","type-post","status-publish","format-standard","hentry","category-crude-oil","category-future-trading-news","category-futures-trading-2","tag-crude-oil-2","tag-crude-oil-inventories","tag-futures-trading","tag-futures-trading-levels","tag-market-consolidation"],"_links":{"self":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/1504","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/comments?post=1504"}],"version-history":[{"count":5,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/1504\/revisions"}],"predecessor-version":[{"id":7986,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/1504\/revisions\/7986"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=1504"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=1504"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=1504"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}