Market Analysis - 02.14.2020
UPDATES
We have updated our coverage to include $NG, $NQ, $6E and $6B futures contracts.
CRUDE OIL
Key Support Levels:
51.28
51.45
51.73
51.95
52 - GEX
Key Resistance Levels:
52.17
52.43
52.71
53 - GEX
Auction Profile:
Up auction
S&P 500
Key Support Levels:
3380 - GEX
3365.50
3360.50
3352.50
3343
3336.25
3326.50
3304
Key Resistance Levels:
3373
3382.50
3400 - GEX
Auction Profile:
Up auction
NATURAL GAS
Key Support Levels:
1.799
1.791
1.778
1.75 - GEX
Key Resistance Levels:
1.813
1.823
1.84
1.851
1.855
1.868
1.90 - GEX
Auction Profile:
Range bound
NASDAQ
Key Support Levels:
9607.60
9570 - GEX
9563.50
9416
9359
Key Resistance Levels:
9650 - GEX
9659.25
Auction Profile:
Up auction
EURO
Key Support Levels:
1.08595
1.085 - GEX
Key Resistance Levels:
1.089
1.09335
1.0975
1.1 - GEX
Auction Profile:
Down auction
BRITISH POUND
Key Support Levels:
1.0325
1.2972
1.295
1.29 - GEX
Key Resistance Levels:
1.307
1.305 - GEX
Auction Profile:
Range bound
FINAL THOUGHTS
Crude oil futures are beginning to trend upward. Keep focused on SR levels to determine if buyers are sellers are in control. With the #coronavirus numbers fluctuating so rapidly these days, any negative news out of China could make an impact of this uptrend.
S&P 500 futures are up near all time highs again today. With high GEX levels, look for $ES to remain pinned between 3360-3400.
Natural gas futures are range bound for the past few days. Look to see if support holds and buyers come in near the lows. If not, aggressive sellers will most likely come in to drive the prices lower.
NASDAQ futures are also near all time highs again. Again, GEX will keep these contracts pinned near the top of the current range.
Euro futures have been obliterated in recent weeks. The contracts are trading at levels not seen since 2017. Obvious momentum to the downside with the futures approaching long term support.
British pound futures are range bound. Expect to see rotation between bracket highs and lows until aggressive activity occurs in one direction.