Blue Line Futures | Midday Market Minute 11.18.2021

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Whipsaws abound in the S&P and Nasdaq! The S&P bounced off of major 3 star support and ran into resistance at 4700-4705!

NVIDA blew out earnings on what is to come with the Metaverse! This drove the Nasdaq to all time highs, all the while Joe Manchin and Nancy Pelosi go back and forth with the vote!

While we did see CrudeOil and Copper snap back, one must be nimble with Germany producing higher Covid cases. (Headwinds!)

The $76.00 level that we highlight is for the DECEMBER CRUDE OIL Contract. January 2022 is now the front month. (Our major 4 star support for the January contract is highlighted in our Morning Express).

What is the trade if we do see a release from the SPR?

Do not miss our daily Metals Edge video, covering the sector after settlement at 12:30 CT.

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Futures trading involves substantial risk of loss and may not be suitable for all investors. 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

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