{"id":18289,"date":"2023-02-15T13:24:24","date_gmt":"2023-02-15T21:24:24","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=18289"},"modified":"2023-02-15T13:24:24","modified_gmt":"2023-02-15T21:24:24","slug":"ppi-tomorrow-02-16-2023-trading-levels","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/ppi-tomorrow-02-16-2023-trading-levels\/","title":{"rendered":"PPI Tomorrow!…. 02.16.2023 Trading Levels"},"content":{"rendered":"
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Get Real Time updates and\u00a0more on our private FB group!<\/div>\n
https:\/\/business.facebook.com\/groups\/1105191589938254\/<\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
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Bullet Points, Highlights, Announcements<\/strong><\/h3>\n

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By Mark O’Brien, Senior Broker<\/p>\n

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General:<\/strong><\/p>\n

While yesterday\u2019s U.S. Consumer Price Index showed inflation continues to slow from its readings in 2022, CPI readings, the pace of declined slowed and a wide array prices stayed elevated, including food, clothes (women\u2019s apparel dropped slightly), rent and hotel rooms.\u00a0Once again, a key economic report has shown that the road back to 2.0% inflation, on which the Federal Reserve is committed to following, is going to be lengthy and rugged.\u00a0It certainly leaves Fed in a hawkish posture.<\/p>\n

Be alert:\u00a0the release of the Bureau of Labor Statistics\u2019 Producer Price Index is on deck for tomorrow.\u00a0\u00a0The report comes out at 7:30 A.M., Central Time.<\/p>\n

Markets:<\/strong><\/p>\n

Metals:<\/strong><\/p>\n

Gold (April)<\/a> has declined \u00b1$130 (a \u00b1$13,000 move) since its Feb. 1 intraday high of $1,970.80 \/ oz.\u00a0Today\u2019s $1839.30 intraday low sets it back to prices not seen since the first of the for the calendar year.<\/p>\n

Corn<\/a>:<\/strong><\/p>\n

For most of the last few months, U.S. corn prices have justifiably focused on crop conditions, including obviously yield and quality, in Argentina and Brazil, which have continually come in far from ideal.\u00a0As a result, the markets have priced in current and further crop damage coming into the South America harvest.\u00a0That\u2019s about to shift with the start of the crop year here in the U.S.\u00a0Forecasts for planted acreage, demand, ending stocks, stocks\/usage ratio \u2013 all tracked by the USDA and sized up by traders \u2013 are about to take center stage.\u00a0As crops from the southern hemisphere are \u201cmade,\u201d if little or no further surprises hit, look for CBOT corn prices<\/a> to settle in for news of this year\u2019s U.S. crop, starting with Prospective Plantings late next month.<\/p>\n

Crude oil<\/a>:<\/strong><\/p>\n

Despite the uneven decline of crude oil prices<\/a> over the last 8 months from their \u00b1$105 per barrel highs of last June (basis March) down to a few recent forays to the low 70\u2019s per barrel, crude oil looks to still be focused on growing Chinese demand.\u00a0As we approach the traditional U.S. driving season in May, look for recent lows as meaningful signs of support.<\/p>\n

Plan your trade and trade your plan.\u00a0<\/a><\/p>\n<\/div>\n

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A Cannon broker<\/a> will be able to assist, provide feedback and answer any questions.<\/div>\n
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Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors.\u00a0 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.<\/p>\n

Futures Trading Levels<\/strong><\/h3>\n

02-14-2023<\/p>\n

\"#ES,
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG<\/figcaption><\/figure>\n

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Improve Your Trading Skills<\/h2>\n
Get access to proprietary indicators and trading methods,\u00a0consult with an experienced broker<\/a><\/div>\n
\u00a01-800-454-9572\u00a0Explore trading methods.\u00a0Register Here<\/a><\/div>\n


\n<\/a>Economic Reports, Source:\u00a0<\/strong><\/h3>\n

Forexfactory.com<\/a><\/p>\n

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This is not a solicitation of any order to buy or sell, but a current market view provided by\u00a0Cannon Trading Inc<\/a>. Any statement of facts\u00a0here in\u00a0contained are derived from sources believed to be\u00a0reliable,\u00a0but are not guaranteed as to\u00a0accuracy, 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\u00a0judgement\u00a0in trading.<\/p>\n","protected":false},"excerpt":{"rendered":"

Get Real Time updates and\u00a0more on our private FB group! https:\/\/business.facebook.com\/groups\/1105191589938254\/ Bullet Points, Highlights, Announcements   By Mark O’Brien, Senior Broker   General: While yesterday\u2019s U.S. Consumer Price Index showed inflation continues to slow from its readings in 2022, CPI readings, the pace of declined slowed and a wide array prices stayed elevated, including food, […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[67,231,119,230,30,238],"tags":[1481,1480,1475,1471,1469,1467,1468,1474,1472,1477,1478,1476,1479,1470,1473,1172,1239,40,627,1277,36],"class_list":["post-18289","post","type-post","status-publish","format-standard","hentry","category-future-trading-news","category-commodity-brokers-2","category-crude-oil","category-day-trading-2","category-futures-broker-2","category-grain-futures","tag-cbot","tag-comex","tag-commoditiesmarket","tag-commoditiestrader","tag-commoditytrading","tag-crudeoil","tag-daytrader","tag-futuresmarket","tag-futurestrader","tag-kcbt","tag-mgex","tag-nymex","tag-smfe","tag-stockindices","tag-swingtrader","tag-cme","tag-commodities","tag-daytrading","tag-futures","tag-globex","tag-gold"],"_links":{"self":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/18289","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=18289"}],"version-history":[{"count":1,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/18289\/revisions"}],"predecessor-version":[{"id":18290,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/18289\/revisions\/18290"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=18289"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=18289"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=18289"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}