{"id":19212,"date":"2023-12-06T13:57:05","date_gmt":"2023-12-06T21:57:05","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=19212"},"modified":"2023-12-06T13:57:05","modified_gmt":"2023-12-06T21:57:05","slug":"get-trade-alerts-futures-trading-levels-for-dec-7th","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/get-trade-alerts-futures-trading-levels-for-dec-7th\/","title":{"rendered":"Get Trade Alerts + Futures Trading Levels for Dec. 7th"},"content":{"rendered":"
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Bullet Points, Highlights, Announcements<\/h3>\n

By Mark O’Brien, Senior Broker<\/p>\n

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General:\u00a0<\/strong><\/p>\n

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It seems like no futures markets are more focused on trading off expectations than those of interest rate futures, like the 10-year T-note<\/a> and 30-year T-bond<\/a>.\u00a0 And those expectations are more focused on one source of information more than any other: the words and actions of the U.S. Federal Reserve Bank\u2019s governors and current chairman, Jerome Powell.\u00a0 The Fed. board\u2019s governors\u2019 words are incessantly parsed for any clues as to the future direction of interest rate policy.\u00a0 Each coming Federal Open Market Committee meeting becomes the latest most important meeting in memory and next week\u2019s is no exception.\u00a0 The U.S. economy is slowing; there are signs inflation is falling and the Fed has kept interest rates steady \u2013 at a range of 5.25% to 5.50%, the highest since 2001 \u2013 through its last two meetings after raising rates at the conclusion of eleven consecutive meetings before that.\u00a0 If \u201cthree is a trend,\u201d and if the Fed. holds interest rates steady (widely forecast) look for the futures markets to pile on to the already-shifting expectation that a rate cut is coming sooner than later.\u00a0 As is customary, Chair Powell will likely try to communicate that the Central Bank\u2019s job of controlling inflation is ongoing and any decision on the future of interest rates \u2013 up, down, or steady – will be based on broad definitive proof of the need to act, or not.\u00a0 Next week\u2019s meeting is a 2-day affair, with the announcement scheduled for Wednesday at 1:00 P.M. Central Time, followed by Chair Powell\u2019s press conference.\u00a0 Stay tuned.<\/p>\n

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Energy:\u00a0<\/strong><\/p>\n

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Already entering today\u2019s trading on a 4-day losing streak, crude oil futures<\/a> extended its sell-off which as of this typing broke through $70.00 per barrel to an intra-day low of $69.11, its lowest price since July 3 (basis the January contract).<\/p>\n

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While today\u2019s weekly Energy Information Administration report showed crude inventories fell by 4.6 million barrels, far exceeding the 1.4 million-barrel drop analysts had expected, U.S. gasoline stocks rose by 5.4 million barrels last week, more than five times the 1 million-barrel rise analysts expected.<\/p>\n

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News concerning \u201cthe elephant in the room\u201d \u2013 China\u2019s economic health \u2013 also pressed down on prices.\u00a0 Yesterday, rating agency Moody’s lowered the outlook on China’s A1 rating from stable to negative.<\/p>\n

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Getting help from the currency market, the U.S. dollar stayed on its upward rebound from 3+ month lows of last week to a two-week high.\u00a0 For all things dollar denominated \u2013 particularly globally traded commodities \u2013 a rising dollar pressures demand by making purchases more expensive for holders of other currencies.<\/p>\n

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

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

12-07-2023<\/p>\n

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

Improve Your Trading Skills<\/h2>\n
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\n<\/a>Economic Reports, <\/strong><\/h3>\n

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 more on our private FB group! https:\/\/business.facebook.com\/groups\/1105191589938254\/ Join our\u00a0Private Facebook group Subscribe to our\u00a0YouTube Channel     Bullet Points, Highlights, Announcements By Mark O’Brien, Senior Broker   General:\u00a0   It seems like no futures markets are more focused on trading off expectations than those of interest rate futures, like the […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[67,231,76,119,230,237,30,3,61,234],"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-19212","post","type-post","status-publish","format-standard","hentry","category-future-trading-news","category-commodity-brokers-2","category-commodity-trading-2","category-crude-oil","category-day-trading-2","category-energy-futures","category-futures-broker-2","category-futures-exchange","category-futures-trading-2","category-trading-guide","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\/19212","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=19212"}],"version-history":[{"count":1,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/19212\/revisions"}],"predecessor-version":[{"id":19213,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/19212\/revisions\/19213"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=19212"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=19212"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=19212"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}