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Market Analysis - 03.04.2020

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:

45 - GEX

46

47


Key Resistance Levels:

48.35

49.21

50 - GEX

50.56


Auction Profile:

Range bound


/CL futures are currently auctioning in a narrow balance range within previous value. This indicates that markets have currently found value and that the most likely scenario is a normal, normal variation or neutral day. This means that price is likely to auction between two reference points (47-48.35) today. This could change barring any breaking #coronavirus news or other catalyst.

S&P 500


Key Support Levels:

2958.50

3000 - GEX

3026.25


Key Resistance Levels:

3069.75

3100 - GEX

3100.75

3116.50


Auction Profile:

Range bound


/ES is trading within the lower half of the previous value area. This shows little conviction from buyers and sellers and generally accepted value around the point of control. A range day is the most likely outcome for today barring any news catalysts, with downside risk coming from the weak close and location of today's value area relative to the previous one.

NATURAL GAS


Key Support Levels:

1.655

1.7

1.74

1.75 - GEX

1.778


Key Resistance Levels:

1.802

1.841

1.884

1.918

2 - GEX


Auction Profile:

Up auction


/NG futures are trading within previous value area in a narrow range similar to /CL. This indicates agreement between buyers and sellers on accepted value. This could be some consolidation before a move higher, as the fairest value for the past two weeks is still above current price at 1.841.

NASDAQ