{"id":22841,"date":"2026-05-06T13:35:26","date_gmt":"2026-05-06T20:35:26","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=22841"},"modified":"2026-05-06T13:35:26","modified_gmt":"2026-05-06T20:35:26","slug":"equities","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/equities\/","title":{"rendered":"HUGE move up on equities and down on energies on overnight developments with Iran PLUS: June Live Cattle, CannonEdge Snapshot, Levels, Reports; Your 5 Important Can’t-Miss Need-To-Knows for Trading Futures on May 7th, 2026"},"content":{"rendered":"\n\n\n
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At A Glance Levels<\/h3>\n\n\n\n\n\n\n\n\n
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

4487.83<\/td>\n4598.07<\/td>\n4666.33<\/td>\n4776.57<\/td>\n4844.83<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
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Silver (SI)<\/strong><\/h2>\n

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

71.19<\/td>\n74.61<\/td>\n76.47<\/td>\n79.90<\/td>\n81.76<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
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Crude Oil (CL)<\/strong><\/h2>\n

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

81.53<\/td>\n88.43<\/td>\n95.57<\/td>\n102.47<\/td>\n109.61<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
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\u00a0June Bonds (ZB)<\/strong><\/h2>\n

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

112 5\/32<\/td>\n112 29\/32<\/td>\n113 13\/32<\/td>\n114 5\/32<\/td>\n114 21\/32<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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HUGE move up on equities and down on energies on overnight developments with Iran.<\/h3>\n

STAY NIMBLE<\/h3>\n

\"equities\"<\/p>\n

For tomorrow\u2019s session, futures traders should stay focused on overnight price action, key technical levels, and scheduled economic catalysts. Pay close attention to how price behaves around prior day highs\/lows, value areas, and major support or resistance, as these levels often define early risk.<\/p>\n

Monitor overnight volume and global market tone for clues on directional bias but remain flexible\u2014especially around economic releases or central-bank speakers that can quickly change volatility.<\/p>\n

Above all, prioritize risk management and execution discipline, letting the market confirm your idea before committing size rather than forcing trades.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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June Live Cattle<\/h3>\n

June Live Cattle satisfied the second upside PriceCount objective and corrected. At this point, IF the chart can resume its rally with new sustained highs, the third count would project a potential move to the $284.16 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><\/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 Edge \u2014 Your Daily Futures Snapshot for May 7th<\/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 May 7th<\/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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Join our\u00a0Private Facebook group<\/a><\/p>\n

Subscribe to our\u00a0YouTube Channel<\/a><\/p>\n

Listen to our podcast: Subscribe on\u00a0Apple<\/a>,\u00a0Spotif<\/a>y,\u00a0Amazon<\/a><\/p>\n

or wherever you listen to podcasts!<\/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) 4487.83 4598.07 4666.33 4776.57 4844.83 Silver (SI) \u2014 July. (#SI) 71.19 74.61 76.47 79.90 81.76 Crude Oil (CL) \u2014 June. (#CL) 81.53 88.43 95.57 102.47 109.61 \u00a0June Bonds (ZB) \u2014 June. (#ZB) 112 5\/32 112 29\/32 113 13\/32 114 5\/32 […]<\/p>\n","protected":false},"author":19,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[237,239],"tags":[1762,1675,1076,1958,627],"class_list":["post-22841","post","type-post","status-publish","format-standard","hentry","category-energy-futures","category-financial-futures","tag-energies","tag-energy","tag-equities","tag-equity","tag-futures"],"_links":{"self":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/22841","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=22841"}],"version-history":[{"count":1,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/22841\/revisions"}],"predecessor-version":[{"id":22843,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/22841\/revisions\/22843"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=22841"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=22841"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=22841"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}