Market Analysis - 02.19.2020
We provide key support and resistance levels for the following futures products daily:
Crude Oil (/CL)
S&P 500 (/ES)
NASDAQ (/NQ)
Natural Gas (/NG)
Euro (/6E)
British Pound (/6B)
CRUDE OIL
Key Support Levels:
52.89
51.43
50 - GEX
49.95
Key Resistance Levels:
53.26
53.88
54 - GEX
55.28
Auction Profile:
Up auction
S&P 500
Key Support Levels:
3372.50
3350 - GEX
3345.75
3326.50
3284.50
Key Resistance Levels:
3400 - GEX
Auction Profile:
Range bound
NATURAL GAS
Key Support Levels:
1.929
1.862
1.841
1.817
1.80 - GEX
Key Resistance Levels:
1.966
2.00 - GEX
Auction Profile:
Up auction
NASDAQ
Key Support Levels:
9606.25
9600 - GEX
9569.25
9429.50
9417
Key Resistance Levels:
9680 - GEX
Auction Profile:
Range bound
EURO
Key Support Levels:
1.08151
1.08 - GEX
Key Resistance Levels:
1.0858
1.09397
1.09751
1.1 - GEX
1.1033
Auction Profile:
Down auction
BRITISH POUND
Key Support Levels:
1.2962
1.29 - GEX
Key Resistance Levels:
1.3073
1.305 - GEX
1.3031
Auction Profile:
Range bound
FINAL THOUGHTS
Crude oil futures continue to rotate upward as it tested previous fairest value and buyers took control. If price holds previous VAH, we should some further upward movement.
S&P 500 futures continues to remain near all time highs again today. With high GEX levels, look for $ES to remain pinned between 3350-3400.
Natural gas futures continue their upward march staying above previous value area. We will watch to see if buyers maintain control which should be evident early on.
NASDAQ futures are also near all time highs again. Again, GEX will keep these contracts pinned near the top of the current range.
Just when Euro futures looked as if they were starting to bottom, they continue to move lower. As long as sellers continue to extend the range downward with little opposition, price will follow.
British pound futures continue to be range bound. There is still a good amount of buying under the fairest value. We're expecting the range to remain centered around 1.3031, unless a material catalyst appears.