{"id":22856,"date":"2026-05-11T13:39:20","date_gmt":"2026-05-11T20:39:20","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=22856"},"modified":"2026-05-11T13:39:20","modified_gmt":"2026-05-11T20:39:20","slug":"ai","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/ai\/","title":{"rendered":"AI Stocks push higher, leading a bullish market PLUS: How to Place a Trailing Stop on CannonX VIDEO, Pre-Market Briefing PODCAST, CannonEdge Snapshot, Levels, Reports; Your 6 Important Can’t-Miss Need-To-Knows for Trading Futures on May 12th, 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

4616.57<\/td>\n4681.33<\/td>\n4719.87<\/td>\n4784.63<\/td>\n4823.17<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
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Silver (SI)<\/strong><\/h2>\n

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

77.04<\/td>\n81.91<\/td>\n84.40<\/td>\n89.27<\/td>\n91.77<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
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Crude Oil (CL)<\/strong><\/h2>\n

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

94.01<\/td>\n96.12<\/td>\n98.25<\/td>\n100.36<\/td>\n102.49<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
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\u00a0June Bonds (ZB)<\/strong><\/h2>\n

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

112\u00a0 16\/32<\/td>\n112 24\/32<\/td>\n113 6\/32<\/td>\n113 14\/32<\/td>\n113 28\/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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Technical Analysis Weekly Market Update<\/h2>\n

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

CPI tomorrow is a market moving report and we anticipate higher volatility going into and right after the report.<\/h4>\n

\"ai\"<\/p>\n

Over a week old but still the best quote \u2014 Jeff DeGraff of Renaissance Macro had what I think was the cleanest framing of where this market sits as we close out April:\u00a0we\u2019re still dancing, but we\u2019re staying in close proximity to the door.\u00a0The tape, as DeGraff put it, is the dominant factor \u2014 and the tape is moving in the right direction. That keeps him constructive.<\/p>\n

Artificial Intelligence (AI)<\/h3>\n

The driving engine behind this week\u2019s push higher in stocks continued to be the artificial intelligence (AI) infrastructure plays, especially in the chip stocks. AMD reported earnings on Tuesday and helped fuel additional bullish momentum as AMD CEO Lisa Su once again revised longer-term growth expectations higher. The continuous data points from the chip companies suggest that compute demand still outstrips supply.<\/p>\n

Another euphoric week and not without reason. Friday morning\u2019s stronger-than-expected monthly jobs report appears to be reinforcing the notion that the labor market is firm, and the AI secular growth story will continue to support economic growth, regardless of higher oil prices and no rate cuts from the Federal Reserve.\u00a0Are markets becoming complacent?\u00a0Possibly \u2014 but current conditions still support bullish momentum. The global economy is experiencing a major capital expenditure cycle, while earnings expectations continue to trend higher.<\/p>\n

Bullish Positioning<\/h3>\n

As long as pullbacks are consistently bought and dip buyers continue to be rewarded, bullish positioning can reinforce itself and extend trends longer than many expect. When markets continue stair-stepping into new all-time highs, there is little historical resistance overhead. In these environments, price discovery remains active, meaning the market is still attempting to determine fair value.<\/p>\n

Near-term conditions may appear overbought, particularly in areas like the semiconductor sector, but overbought conditions alone do not determine when a pullback will occur.\u00a0Strong momentum can persist longer than expected.<\/p>\n

Instead of predicting reversals solely from stretched conditions, traders should monitor for actual signs of weakening momentum, such as: bearish reversal candlestick patterns on the daily timeframe; failed breakouts or loss of follow-through; deteriorating breadth or momentum confirmation; and negative news.<\/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 May 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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Daily Levels for May 12th, 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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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) 4616.57 4681.33 4719.87 4784.63 4823.17 Silver (SI) \u2014 July. (#SI) 77.04 81.91 84.40 89.27 91.77 Crude Oil (CL) \u2014 June. (#CL) 94.01 96.12 98.25 100.36 102.49 \u00a0June Bonds (ZB) \u2014 June. (#ZB) 112\u00a0 16\/32 112 24\/32 113 6\/32 113 14\/32 […]<\/p>\n","protected":false},"author":19,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[67,234],"tags":[1964,1988,627],"class_list":["post-22856","post","type-post","status-publish","format-standard","hentry","category-future-trading-news","category-trading-guide","tag-ai","tag-artificial-intelligence","tag-futures"],"_links":{"self":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/22856","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=22856"}],"version-history":[{"count":1,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/22856\/revisions"}],"predecessor-version":[{"id":22859,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/22856\/revisions\/22859"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=22856"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=22856"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=22856"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}