Trading on the Heels of Nonfarm

Research Posts Morning Express

/ by nawadblueline | Leave a comment

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Chart of 2-year futures, one of the most important charts this week on the heels of a cooler jobs report, slowing ISM, and as we look ahead to the U.S. Treasury auctioning $48 billion 3-year Notes tomorrow, $40 billion 10-year Notes Wednesday, and $24 billion 30-year Bonds on Thursday.

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

S&P, last week’s close: Settled at 4376.00, up 40.25 on Friday and 238.25 on the week

NQ, last week’s close: Settled at 15,178.75, up 180.75 on Friday and 913.50 on the week

Bias: Bullish/Neutral

Resistance: 4391.75*, 4401.75-4404****, 4447***, 4462.25-4470.25***

Pivot: 4383.25

Support: 4376**, 4358.25-4361.25***, 4335.75-4337.75***, 4327.50-4331.75**, 4321.75**, 4308.75-4312.75***, 4302.25-4303**, 4293.75-4295.75***

NQ (Dec)

Resistance: 15,202-15,241***, 15,380**, 15,452-15,468****, 15,627-15,673***

Pivot: 15,163

Support: 15,115-15,140***, 15,040-15,065**, 14,998-15,017***, 14,952**, 14,846-14,886***, 14,744-14,749****

Crude Oil (December)

Last week’s close: Settled at 80.51, down 1.95 on Friday and 5.03 on the week

Bias: Neutral/Bullish

Resistance: 82.43-82.68**, 83.37-83.60***, 83.65-83.89***, 84.37-84.60**, 85.03-85.30***

Pivot: 81.45

Support: 80.87-80.94**, 80.10-80.51****, 78.89-79.34***, 77.74***

Gold (December) / Silver (December)

Gold, last week’s close: Settled at 1999.2, up 5.7 on Friday and 0.7 on the week

Silver, last week’s close: Settled at 23.285, up 0.439 on Friday and 0.398 on the week

Bias: Neutral/Bullish

Resistance: 1999.2**, 2003.6-2005.9***, 2009.2-2012.7****, 2019-2022.1**, 2028.6**, 2049.6-2057.4***

Pivot: 1996

Support: 1987.4-1991.3***, 1978.2-1982.8***, 1971-1973.6***, 1863.8-1865.1***, 1944.7-1950.6****

Silver (December)

Resistance: 23.36-23.44***, 23.51-23.55**, 23.80-23.88****

Pivot: 23.22

Support: 23.13-23.17**, 22.95-22.98***, 22.65-22.72***, 22.53-22.56***, 22.36-22.39***, 21.72-22.01****

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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

Performance Disclaimer

Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program.

One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk in actual trading. For example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all of which can adversely affect actual trading results.

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