Managing the Data Dump

Research Posts Morning Express

/ by nawadblueline | Leave a comment

Actionable levels to manage the data dump on the last day of the month and before the Fed policy decision, in the E-mini S&P, E-mini NQ, Crude Oil, Gold, and Silver (futures)

  • U.S. Employment Cost Index for Q3 came in at +1.1% q/q versus +1.0% expected. 
  • Eurozone CPI for October came in below expectations earlier this morning at +2.9% y/y versus +3.1% expected and +0.1% m/m versus +0.3%.
  • China Manufacturing PMI for October surprisingly contracted last night at 49.5 versus 50.2 expected, while Services PMI also missed at 50.6 versus 51.8. 
  • Case Shiller Home Price data is due at 8:00 am CT.
  • Chicago PMI at 8:45 am CT.
  • The closely watched CB Consumer Confidence is due at 9:00 am CT. 

E-mini S&P (December) / E-mini NQ (December)

S&P, yesterday’s close: Settled at 4185.75, up 48.00

NQ, yesterday’s close: Settled at 14,416.50, up 151.25

Bias: Neutral/Bullish

Resistance: 4195-4197.50**, 4202-4205***, 4209.75-4213.25****, 4223.25-4224.25**, 4240**, 4248.50-4253.25***, 4271.25-4276.25****

Pivot: 4184-4185.75

Support: 4173-4175.75**, 4165.50**, 4152-4156.50**, 4137.75-4143.50****, 4122.25-4126***, 4100**, 4062-4075.75***

NQ (Dec)

Resistance: 14,444-14,478****, 14,514-14,534**, 14,586-14,648****, 14,725-14,749***, 14,804-14,847****

Pivot: 14,385-14,407

Support: 14,294-14,311***, 14,265***, 14,194-14,210***, 14,140-14,178***, 14,000**, 13,931-13,968****

Crude Oil (December)

Yesterday’s close: Settled at 82.31, down 3.23

Bias: Neutral/Bullish

Resistance: 83.48-83.71***, 84.15-84.37**, 85.54-85.90****, 86.16-86.39***, 86.77-86.90**, 87.21-87.53***

Pivot: 82.90

Support: 82.31**, 81.80-82.08****, 81.28-81.31***, 80.20-80.57**

Gold (December) / Silver (December)

Gold, yesterday’s close: Settled at 2005.5, up 7.1

Silver, yesterday’s close: Settled at 23.396, up 0.509

Bias: Neutral/Bullish

Resistance: 2009.2-2012.7****, 2019-2022.1**, 2028.6**, 2049.6-2057.4***

Pivot: 2005.5

Support: 1999.7-1999.9**, 1995.6-1996.2***, 1986.4-1988.4***, 1981.5-1984.1***, 1976.6-1978**, 1971-1973.6***, 1863.8-1865.1***, 1946.2-1950.6*** 1935.7-1938.3****

Silver (December)

Resistance: 23.46-23.51**, 23.80-23.88****, 24.05-24.24**, 24.56-24.63***

Pivot: 23.39

Support: 23.22-23.30**, 23.11-23.14**, 22.77-22.89****

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Futures trading involves substantial risk of loss and may not be suitable for all investors. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

Blue Line Futures is a member of NFA and is subject to NFA’s regulatory oversight and examinations. However, you should be aware that the NFA does not have regulatory oversight authority over underlying or spot virtual currency products or transactions or virtual currency exchanges, custodians or markets. Therefore, carefully consider whether such trading is suitable for you considering your financial condition.

With Cyber-attacks on the rise, attacking firms in the healthcare, financial, energy and other state and global sectors, Blue Line Futures wants you to be safe! Blue Line Futures will never contact you via a third party application. Blue Line Futures employees use only firm authorized email addresses and phone numbers. If you are contacted by any person and want to confirm identity please reach out to us at info@bluelinefutures.com or call us at 312- 278-0500

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