WYNTK before trading tomorrow, August 25th Futures Trading Levels - Support & Resistance Levels

Support & Resistance Levels

This Blog provides futures market outlook for different commodities and futures trading markets, mostly stock index futures, as well as support and resistance levels for Crude Oil futures, Gold futures, Euro currency and others. At times the daily trading blog will include educational information about different aspects of commodity and futures trading.

WYNTK before trading tomorrow, August 25th Futures Trading Levels

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Bullet Points: Highlights and Announcements

By Mark O’Brien Senior Broker

Energy: September Natural gas touched $10.028 per million British thermal units intraday yesterday, a 14-yr. high. It closed at $9.193 – a ± $9,000 per contract correction off its highs, yet still more than twice the price a year ago.

Financials: If you turn to any financial news source, you’d think the only thing traders are thinking about this week is the Federal Reserve Bank of Kansas City’s annual Economic Policy Symposium. This is a 3-day gathering of about 120 economists and policy makers from government agencies and academia – including many central bankers – from around the world. It all takes place in Jackson Hole, Wyoming starting tomorrow.

Why is it important? The symposium kicks off with a speech given by the Chairman of the U.S. Federal Reserve, currently Jerome Powell. While not an FOMC meeting where central bank policy is communicated and interest rates are set, the speech has become an opportunity to define the Fed’s. comprehensive policy approach on a global stage to a far-reaching audience. Thus, it has become highly anticipated – arguably more so than past symposium speeches given the current historic rise in inflation globally, and particularly in the U.S. and Europe. Probably the overarching question traders are listening for Chair Powell to answer (he almost certainly will not come right out and say it) is whether the Fed will raise rates by 50 or 75 basis points when Federal Reserve members meet in September to consider monetary policy.

Ten Year Notes Daily Chart below ( click image for larger chart):

Ten year notes downside pressure. Close below 117.070 on an hourly basis cam trigger 116.060 pretty quick. My speculation.

10 year US Treasury Notes Daily Chart
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Futures Trading Levels


Support Resistance Levels 8.25.2022

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This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts here in contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgement in trading.

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