{"id":22705,"date":"2026-03-11T13:54:32","date_gmt":"2026-03-11T20:54:32","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=22705"},"modified":"2026-03-11T13:54:32","modified_gmt":"2026-03-11T20:54:32","slug":"oil-i","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/oil-i\/","title":{"rendered":"Crude Oil Swings $42 as Mideast Crisis Deepens PLUS: CannonEdge Snapshot, April Feeder Cattle, Levels, Reports; Your 5 Important Can’t-Miss Need-To-Knows for Trading Futures on March 12th, 2026"},"content":{"rendered":"\n\n\n
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Commodity Chaos: Crude Oil Swings $42 as Mideast Crisis Deepens<\/h1>\n

By Mark O’Brien, Senior Broker<\/em>\u200a<\/span><\/h3>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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At-a-Glance Levels<\/h1>\n
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Instrument<\/th>\nS2<\/th>\nS1<\/th>\nPivot<\/th>\nR1<\/th>\nR2<\/th>\n<\/th>\n<\/th>\n<\/tr>\n<\/thead>\n
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Gold (GC)<\/strong><\/h2>\n

\u2014 April (#GC)<\/td>\n

5115.93<\/td>\n5150.97<\/td>\n5190.93<\/td>\n5225.97<\/td>\n5265.93<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
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Silver (SI)<\/strong><\/h2>\n

\u2014 May. (#SI)<\/td>\n

81.64<\/td>\n83.88<\/td>\n86.79<\/td>\n89.03<\/td>\n91.94<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
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Crude Oil (CL)<\/strong><\/h2>\n

\u2014 April. (#CL)<\/td>\n

79.17<\/td>\n83.74<\/td>\n86.37<\/td>\n90.94<\/td>\n93.57<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
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\u00a0June Bonds (ZB)<\/strong><\/h2>\n

\u2014 June. (#ZB)<\/td>\n

113 16\/32<\/td>\n114<\/td>\n115 1\/32<\/td>\n115 17\/32<\/td>\n116 18\/32<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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\"oil\"<\/h3>\n

General:<\/h3>\n

Volatility in major commodity futures remained high as the crisis in the Mideast expanded into its second week.\u00a0April crude oil traded as high as $119.48 \/ barrel Sunday night \u2013 a near 29% increase \u2013 and down to today\u2019s low of \u00a0$76.73 for a jaw-dropping $42.75 \/ barrel price range over that time.<\/p>\n

March E-Mini S&P 500<\/h3>\n

The March E-mini S&P 500 spiked down over 100 points to near 4-month lows below 6,600 late Sunday night, with the E-mini Dow losing over 1000 points at the same time.\u00a0Gold and silver futures daily price ranges stayed well-above average with April gold holding above $5,000 \/ ounce for the last three weeks.<\/p>\n

Notable News – Crude Oil<\/h3>\n

Notable news items contributing to recent movement include at least three ships were hit today in and around the Strait of Hormuz and the U.S. military said it struck 16 Iranian mine-laying vessels near this crucial conduit for the global oil trade<\/p>\n

Additionally, the International Energy Agency, which has operated for decades to monitor global crude oil supplies and help prevent price shocks, said that its 32 member countries would release 400 million barrels of oil from their strategic reserves, representing the largest release ever and the first such coordinated action since 2022, after Russia\u2019s full-scale invasion of Ukraine.<\/p>\n

Heads up:<\/h3>\n

Keep in mind that day trading margins can change at your clearing firm \/ FCM \u2013 for certain markets, entire asset classes, i.e., energies, precious metals, stock indexes, etc., particular gateways, i.e., Rithmic, CQG, Sierra\/Teton.\u00a0They can also vary during overnight hours and prior to certain events, i.e., important economic report releases, scheduled statements by important people, agencies, etc.\u00a0Contact your Cannon Trading Co. broker for specifics.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Cannon Edge for March 12th<\/h3>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Introducing Cannon Edge \u2014 Your Daily Futures Snapshot Above<\/h3>\n

Cannon Edge is our new daily feature designed to give traders a fast, actionable overview of key futures markets. Each post delivers:<\/p>\n