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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.


Emini Russell Daily Chart & Trading Levels 4.28.2020

 

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Dear Traders,
I think the mini Russell 2000 has been the leader as far as direction of stock index futures.
Below you will see a daily chart along with the 50% retracement level. That level to watch for is 1324!
Plan your trade, trade your plan and wash your hands often!!

 

Good Trading

Trading Futures, Options on Futures, Gold Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors.? You 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 when it comes to Futures Trading.

 

Futures Trading Levels

04-28-2020

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Cannon offers over 12 TRADING PLATFORMS?CLICK HERE?for a demo


Economic Reports, source:?

 

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.

Posted in: Future Trading News  

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Trading Around Economic Reports & Futures Levels 4-24-2020

 

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Dear Traders,
Futures Trading 101: Trading Around Economic Reports
There are also a number of different approaches to trading, including day trading, swing trading and position trading. There are strategies that focus on just trading straight futures contracts, others solely trade options, including selling/writing options, still others incorporate long and short positions simultaneously – spread trading – utilizing futures and/or options.
One narrowly defined approach to trading – probably most relevant for day traders – is trading around economic reports.
The release of economic reports occurs almost daily. Most come from the U.S. federal government and look at national or large regional data; some come from other private surveys. Some garner considerable attention by traders; others draw barely a thought, much less a glance at their impact on the markets. This article doesn’t attempt to detail any particular number of them and their significance. Rather, it lists some pointers that can help traders prepare for reports releases.
  1. Know the times reports are set for release
  2. Know which markets reports may impact
  3. Know what the markets are expecting and how different outcomes will affect market movement
  4. Do your homework, i.e., go over charts from earlier dates when similar reports were released.
  5. Keep a journal. Focus on the reports that affect the markets you trade.
  6. More…..

READ MORE HERE

 

Good Trading

Trading Futures, Options on Futures, Gold Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors.? You 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 when it comes to Futures Trading.

 

Futures Trading Levels

04-24-2020

Did you know?
Cannon offers over 12 TRADING PLATFORMS?CLICK HERE?for a demo


Economic Reports, source:?

 

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.

Posted in: Future Trading News  

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Negative Crude Oil Prices?? & Trading Levels 4.23.2020

 

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Dear Traders,
Negative Crude Oil Prices??
It is perhaps even more confusing than seeing negative interest rates to see negative oil prices. Both occurrences are quite rare, and there isn’t a lot of information out there explaining it, so let us attempt to clarify where negative pricing comes from and why.
Futures contracts are where oil is primarily traded. In a futures contract, an oil producer agrees to deliver a certain amount to an oil user. For example, Exxon, an oil producer, may agree to produce and distribute 3,000 barrels to Boeing, an oil user. Once the contract is made, it is traded on the futures floor, the price of oil fluctuates, and eventually the last person holding the contract when it expires owns the 3,000 barrels ( 3 contracts of 1000 barrels each). However, most people who trade oil futures are not oil users. So often, a trader who owns a contract that is about to expire will “roll the contract”, or sell it to an actual oil user.
On April 21st, 2020, the last day to roll MAY oil contracts, traders tried to sell these contracts, but for the first time in history, no one was buying. All oil users already had enough oil, so traders had to resort to giving the contracts away, and when even that did not work, the offered to pay these users to take the contracts off their hands, and thus, the negative oil price occurred.
A big reason oil users were not buying at any price was that their oil storage facilities were filled up. As a result, oil producers were forced to slow production, which actually costs them more money. So when the oil price dropped as low as negative $37 a barrel, it wasn’t that a negative amount of oil was produced, it was that no one wanted the oil that was already there.
Also we got MANY calls of clients thinking they can “buy oil at negative prices”, when crude oil or any other deliverable commodity gets into last trading days/ first notice days time frame, the only clients who should still be in there are pre qualified hedgers/ qualified traders who are ALREADY set up and well capitalized to either take delivery or provide delivery…..
From what I understand, a lot of this has to do with an OIL ETF that got flooded with “clients who thought oil prices were too low”….but this is a topic for another discussion.
Also in regards to Crude Oil futures – if you are actively trading this market, visit:

 

Good Trading

Trading Futures, Options on Futures, Gold Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors.? You 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 when it comes to Futures Trading.

 

Futures Trading Levels

04-23-2020

Did you know?
Cannon offers over 12 TRADING PLATFORMS?CLICK HERE?for a demo


Economic Reports, source:?

 

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.

Posted in: Future Trading News  

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Can Crude Oil Go Negative again? Daily Copper Chart & Trading Levels 4.22.2020

 

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Dear Traders,
My support levels for Crude Oil futures ( see below) are showing some NEGATIVE values!! I never seen this until yesterday….
A more in depth piece on negative commodity pricing and some implications will come tomorrow.
In between it is a good time to remind you the following:
*Expect the unexpected…
* Volatility is a game changer!! One can not use the same concept/method/trading size today when volatility is extremely high versus periods like 4 months ago when volatility was relatively low.
*Trade smaller. The bands are much larger. Watch the VIX.
* Have an idea of what you are looking to do, keep in mind possible risk and have a game plan. Now more than ever, plan your trade and than trade your plan!
* Think money management, hedging risk while you are still trying to figure out how to profit.
* Know what is going on, reports, current margins, current limits and more.
* DO NOT assume anything…if you are not sure,?contact us?and we will try our best to assist with the combined, vast experience we have here as a team.
* Wash hands, take this seriously and do your best to stay healthy….

Good Trading

Trading Futures, Options on Futures, Gold Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors.? You 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 when it comes to Futures Trading.

 

Futures Trading Levels

04-21-2020

Did you know?
Cannon offers over 12 TRADING PLATFORMS?CLICK HERE?for a demo


Economic Reports, source:?

 

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.

Posted in: Future Trading News  

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Crude Oil Futures Go Negative & Futures Trading Levels 4.21.2020

 

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Dear Traders,
These markets are EXTREMELY tough…even for experienced traders.
Did you ever think you will see crude oil trading at NEGATIVE prices?
What about limit moves which took place in more than a few markets? did you get stuck?
We don’t have a crystal ball, but we do have expert insights and over 30 years of experience assisting our clients using different approaches, options, spreads, combinations and more.
Sometimes just a second pair of eyes or voice o reason can make a big difference.
Our team of brokers are all series 3, most with over 10 years experience and can assist you in different ways.
Whether you an experienced trader who needs a second opinion or never traded futures before, a licensed Cannon Trading broker is ready to help.
Daily chart of MAY crude Oil which is going into delivery tomorrow above…..Never say never in the business of trading…..I never thought I would see a commodity traded at negative value?!!

Good Trading

Trading Futures, Options on Futures, Gold Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors.? You 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 when it comes to Futures Trading.

 

Futures Trading Levels

04-21-2020

Did you know?
Cannon offers over 12 TRADING PLATFORMS?CLICK HERE?for a demo


Economic Reports, source:?

 

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.

Posted in: Future Trading News  

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