{"id":19592,"date":"2024-03-13T12:43:39","date_gmt":"2024-03-13T20:43:39","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=19592"},"modified":"2024-03-13T12:43:39","modified_gmt":"2024-03-13T20:43:39","slug":"ppi-retails-sales-trading-levels-for-march-14th","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/ppi-retails-sales-trading-levels-for-march-14th\/","title":{"rendered":"PPI & Retails Sales + Trading Levels for March 14th"},"content":{"rendered":"
Get Real Time updates and more by joining our Private Facebook Group<\/a>!<\/span><\/div>\n
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Market Overview for the last 2 trading days of the week<\/h3>\n

By Mark O’Brien<\/p>\n

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Heads up:<\/strong><\/p>\n

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Keep an eye out for the second of this week\u2019s inflation reports: the Bureau of Labor Statistics\u2019 Producer Price Index.\u00a0 The report will be released tomorrow, 7:30 A.M., Central Time.<\/p>\n

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Energy:\u202f\u202f\u00a0<\/strong><\/p>\n

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This morning, the Energy Information Agency released its weekly crude oil stocks report and the data was a bullish curveball showing a surprise withdrawal in U.S. crude inventories and a bigger-than-expected drop in U.S. gasoline stocks.\u00a0 April RBOB gasoline futures<\/a> rose over seven cents as of this typing \u2013 a \u00b1$3,000 per contract move \u2013 up to \u00b1$2.66 per gallon, close to 6-month highs.\u00a0 Spurring the price increase, Ukrainian drone attacks struck several oil refining facilities in Russia for the second day, damaging its refining capacity<\/p>\n

Metals:\u202f\u202f\u00a0<\/strong><\/p>\n

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In concert with the month-long slump in the U.S. dollar and a lingering expectation the Fed will reduce borrowing costs this June, today gold is chipping away at its \u00b1$20 sell-off Monday and poised to around its prior all-time high close (basis April): $2,188.60\/oz.\u00a0 As of this typing, April gold is \u00b1$2,177.00.<\/p>\n

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

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All three major stock indexes have sustained trading near their all-time highs this week \u2013 after the Personal Consumption & Expenditures Price Index on April 1st (the Fed\u2019s preferred U.S. inflation gauge), February\u2019s non-farm payrolls last Friday and Tuesday\u2019s higher-than-expected CPI reading yesterday.\u00a0 As of this typing, prices are mixed ahead of tomorrow\u2019s release of the Bureau of Labor Statistics\u2019 Producer Price Index.<\/p>\n

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

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So far, the king of all-time highs this week is not Bitcoin (see below).\u00a0 It\u2019s Cocoa.\u00a0 The May cocoa<\/a> contract broke above $7,000\/ton, nearly $2,000\/ton higher over the last month \u2013 a \u00b1$20,000 per contract move, including today\u2019s 361-point ($3,6010) move today \u2013 with \u201cno top in sight,\u201d stated by The Hightower Report.<\/p>\n

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

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March Bitcoin futures are set to close at a new all-time high above 73,000 today.\u00a0 With the Bitcoin ETF now trading, remember that the world\u2019s largest futures and options exchange \u2013 the CME Group \u2013\u00a0offers Bitcoin and Micro Bitcoin futures<\/a>\u00a0and options with efficient price discovery in transparent futures markets, prices based on the regulated CME CF Bitcoin Reference Rate (BRR) and easily traded on your supported trading platform.\u00a0 Make it your choice for managing cryptocurrency risk.<\/p>\n

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

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Watch video below on how to rollover from March to June contracts if you are a stock index trader on our E-Futures Platform!<\/p>\n

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Daily Levels for March 14th, 2024<\/h3>\n

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Economic Reports<\/strong><\/div>\n
provided by:\u00a0<\/a>ForexFactory.com<\/a><\/div>\n
All times are Eastern Time ( New York)<\/div>\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> at 1-800-454-9572.<\/p>\n

Explore trading methods.\u00a0Register Here<\/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 Cannon 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.<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Get Real Time updates and more by joining our Private Facebook Group! Subscribe to our\u00a0YouTube Channel       Market Overview for the last 2 trading days of the week By Mark O’Brien Heads up:   Keep an eye out for the second of this week\u2019s inflation reports: the Bureau of Labor Statistics\u2019 Producer Price […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[67,1243,231,76,782,30,61,358,234],"tags":[],"class_list":["post-19592","post","type-post","status-publish","format-standard","hentry","category-future-trading-news","category-bitcoin-futures","category-commodity-brokers-2","category-commodity-trading-2","category-economic-trading","category-futures-broker-2","category-futures-trading-2","category-futures-trading-education","category-trading-guide"],"_links":{"self":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/19592","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=19592"}],"version-history":[{"count":1,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/19592\/revisions"}],"predecessor-version":[{"id":19594,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/19592\/revisions\/19594"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=19592"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=19592"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=19592"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}