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Market Analysis - 02.27.2020

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:

47 - GEX


Key Resistance Levels:

48.35

49.10

49.31

49.66

50 - GEX


Auction Profile:

Down auction

 

S&P 500


Key Support Levels:

3050 - GEX

3069.75


Key Resistance Levels:

3091

3100 - GEX

3116.50

3143.25

3156.50


Auction Profile:

Down auction

 

NATURAL GAS


Key Support Levels:

1.75 - GEX

1.76


Key Resistance Levels:

1.778

1.841

1.85 - GEX

1.862

1.884


Auction Profile:

Down auction

 

NASDAQ


Key Support Levels:

8611

8730 - GEX

8731.75


Key Resistance Levels:

8800 - GEX

8931.25

8983.50

9034


Auction Profile:

Down auction

 

EURO


Key Support Levels:

1.0858

1.0889

1.09 - GEX

1.09355

1.095


Key Resistance Levels:

1.09751

1.1027

1.10699

1.11 - GEX


Auction Profile:

Up auction

 

BRITISH POUND


Key Support Levels:

1.28 - GEX

1.2865


Key Resistance Levels:

1.291

1.2917

1.2938

1.2972

1.305 - GEX


Auction Profile:

Range bound

 

FINAL THOUGHTS


The main idea to keep in mind over the next few weeks, or at least until we have a better grasp on the #coronavirus, is that volatility will be elevated. Expect big moves in indices and commodities. Currencies have been weathering the storm with less volatility than other futures contracts. Expect sharp swings in momentum due to the increased volatility as market makers hedging will increase directional moves due to negative gamma exposure.

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