{"id":22792,"date":"2026-04-15T13:27:08","date_gmt":"2026-04-15T20:27:08","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=22792"},"modified":"2026-04-15T13:27:08","modified_gmt":"2026-04-15T20:27:08","slug":"crude-oil-w","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/crude-oil-w\/","title":{"rendered":"Crude Oil Testing Major Support Levels PLUS: NEW CRUDE OIL VIDEO, CannonEdge Snapshot, May KC – Chicago Wheat Spread, Levels, Reports; Your 6 Important Can’t-Miss Need-To-Knows for Trading Futures on April 16th, 2026"},"content":{"rendered":"\n\n\n
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At-a-Glance Levels<\/h3>\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 June (#GC)<\/td>\n

4752.40<\/td>\n4784.40<\/td>\n4839.90<\/td>\n4871.90<\/td>\n4927.40<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
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Silver (SI)<\/strong><\/h2>\n

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

76.74<\/td>\n78.03<\/td>\n79.59<\/td>\n80.88<\/td>\n82.44<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
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Crude Oil (CL)<\/strong><\/h2>\n

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

84.11<\/td>\n87.61<\/td>\n90.45<\/td>\n93.95<\/td>\n96.79<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
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\u00a0June Bonds (ZB)<\/strong><\/h2>\n

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

113 23\/32<\/td>\n113 31\/32<\/td>\n114 15\/32<\/td>\n114 23\/32<\/td>\n115\u00a0 7\/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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Stocks on a V shape bounce, Crude Oil testing major support levels.<\/h2>\n

The conflict is far from over, but the markets act as if they “know something” OR are the markets premature?<\/p>\n

Time will tell…. keep watching Crude Oil.<\/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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What’s Going on With Crude Oil?<\/h3>\n\n\n\n
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May KC – Chicago Wheat Spread<\/h3>\n

The May KC – Chicago Wheat Spread is attempting to extend its rally. If the chart can sustain further strength, the second upside PriceCount objective would project a possible run to the *42 area.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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The PriceCount study is a tool that can help to project the distance of a move in price. The counts are not intended to be an \u2018exact\u2019 science but rather offer a target area for the four objectives which are based off the first leg of a move with each subsequent count having a smaller percentage of being achieved. <\/em><\/p>\n

It is normal for the chart to react by correcting or consolidating at an objective and then either resuming its move or reversing trend. Best utilized in conjunction with other technical tools, PriceCounts offer one more way to analyze charts and help to manage your positions and risk. <\/em><\/p>\n

Learn more at\u00a0www.qtchartoftheday.com<\/a><\/em><\/h3>\n

Trading in futures, options, securities, derivatives or OTC products entails significant risks which must be understood prior to trading and may not be appropriate for all investors. Past performance of actual trades or strategies is not necessarily indicative of future results.<\/em><\/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 \u2014 Your Daily Futures Snapshot for April 16th<\/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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Daily Levels for April 16th, 2026<\/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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Economic Reports<\/h3>\n

provided by:\u00a0<\/a>ForexFactory.com<\/a><\/p>\n

All times are Central Time ( Chicago)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Find us on Trustpilot<\/h1>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\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.\u00a0You 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.<\/em><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Call Now<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Cannon Trading Co., Inc.<\/span><\/strong><\/em><\/p>\n

12100 Wilshire Blvd.<\/span><\/strong><\/em><\/p>\n

Suite 1640<\/span><\/strong><\/em><\/p>\n

Los Angeles, CA 90025 US<\/span><\/strong><\/em><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

At-a-Glance Levels Instrument S2 S1 Pivot R1 R2 Gold (GC) \u2014 June (#GC) 4752.40 4784.40 4839.90 4871.90 4927.40 Silver (SI) \u2014 May. (#SI) 76.74 78.03 79.59 80.88 82.44 Crude Oil (CL) \u2014 May. (#CL) 84.11 87.61 90.45 93.95 96.79 \u00a0June Bonds (ZB) \u2014 June. (#ZB) 113 23\/32 113 31\/32 114 15\/32 114 23\/32 115\u00a0 7\/32 […]<\/p>\n","protected":false},"author":19,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[119,67],"tags":[357,16,1767],"class_list":["post-22792","post","type-post","status-publish","format-standard","hentry","category-crude-oil","category-future-trading-news","tag-crude-oil-2","tag-futures-trading","tag-iran"],"_links":{"self":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/22792","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\/19"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/comments?post=22792"}],"version-history":[{"count":1,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/22792\/revisions"}],"predecessor-version":[{"id":22793,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/22792\/revisions\/22793"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=22792"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=22792"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=22792"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}