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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.

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