{"id":22799,"date":"2026-04-20T13:28:55","date_gmt":"2026-04-20T20:28:55","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=22799"},"modified":"2026-04-20T13:28:55","modified_gmt":"2026-04-20T20:28:55","slug":"crude-o","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/crude-o\/","title":{"rendered":"Crude Oil Pricing amidst Strait of Hormuz Failure-To-Open PLUS: Pre-Market Briefing PODCAST, CannonEdge Snapshot, Levels, Reports; Your 5 Important Can’t-Miss Need-To-Knows for Trading Futures on April 21st, 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

4715.87<\/td>\n4775.63<\/td>\n4811.77<\/td>\n4871.53<\/td>\n4907.67<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
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Silver (SI)<\/strong><\/h2>\n

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

77.72<\/td>\n78.77<\/td>\n79.76<\/td>\n80.81<\/td>\n81.80<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
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Crude Oil (CL)<\/strong><\/h2>\n

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

83.17<\/td>\n85.03<\/td>\n87.32<\/td>\n89.18<\/td>\n91.47<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
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\u00a0June Bonds (ZB)<\/strong><\/h2>\n

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

113 25\/32<\/td>\n114 5\/32<\/td>\n114 14\/32<\/td>\n114 26\/32<\/td>\n115\u00a0 3\/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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Technical Analysis Weekly Market Update<\/h2>\n

By Eli Levy, Senior Analyst<\/h3>\n

\"crude\"<\/p>\n

Equities<\/h3>\n

The rally for U.S. equities closed the week higher yet again, marking the\u00a03rd consecutive weekly gain\u00a0after five straight weekly declines before that. It was a\u00a0fast and remarkable rally, to say the least. WTI crude is\u00a0down 12%\u00a0and the VIX has pulled back to\u00a017. Uncertainty around Iran, oil prices, and the potential economic fallout hasn\u2019t fully dissipated \u2014 but markets are trading as if the war is effectively over and any oil price shock will prove short-lived.<\/p>\n

Q1 First Week<\/h3>\n

The first week of\u00a0Q1 earnings backed up the momentum\u00a0right on cue. When S&P futures touched the all-time high, I looked for the catalyst that could push them\u00a0through\u00a0that ATH \u2014 and I saw the Magnificent 7 were still well below their own ATHs. Given their weighting in the index, the Mag 7 catching up could be the catalyst. Keep an eye on them.<\/p>\n

Economic Calendar<\/h3>\n

The economic calendar was light; the one notable print was\u00a0March PPI coming in well below estimates. Tech again showed relative strength across both AI infrastructure names and software \u2014 the\u00a0PHLX Semiconductor Index (SOX) is trading at fresh all-time highs, and the\u00a0iShares Expanded Tech-Software Select ETF (IGV) gained 15% on the week.<\/p>\n

Big Banks<\/h3>\n

Big banks kicked off earnings on an encouraging note. Only 46 S&P 500 names have reported so far, but of those\u00a069% beat on the top line and 80% on the bottom line. Q1 revenue growth is tracking at\u00a013.21%\u00a0and EPS growth at\u00a032.12%\u00a0\u2014 strong early numbers, but with so little of the index reported it\u2019s too soon to draw firm conclusions.\u00a0ES futures ripped through every key resistance level\u00a0\u2014 reclaiming the 200-, 100-, 50- and 20-day moving averages.<\/p>\n

Final Notes<\/h3>\n

There is no meaningful resistance left on my charts except for the trendline on the SPX chart. I don\u2019t know if we get a pullback, consolidate here, or keep melting up \u2014 but chasing all-time highs\u00a0is not\u00a0suitable for the faint of heart.<\/p>\n

See review of many charts from different segments along with key levels to watch and market direction HERE.<\/a><\/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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Cannon Edge \u2014 Your Daily Futures Snapshot for April 21st<\/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 21st, 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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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) 4715.87 4775.63 4811.77 4871.53 4907.67 Silver (SI) \u2014 May. (#SI) 77.72 78.77 79.76 80.81 81.80 Crude Oil (CL) \u2014 June. (#CL) 83.17 85.03 87.32 89.18 91.47 \u00a0June Bonds (ZB) \u2014 June. (#ZB) 113 25\/32 114 5\/32 114 14\/32 114 26\/32 115\u00a0 3\/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":[357,1977],"class_list":["post-22799","post","type-post","status-publish","format-standard","hentry","category-crude-oil","category-future-trading-news","tag-crude-oil-2","tag-wti-crude"],"_links":{"self":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/22799","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=22799"}],"version-history":[{"count":1,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/22799\/revisions"}],"predecessor-version":[{"id":22800,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/22799\/revisions\/22800"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=22799"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=22799"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=22799"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}