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.