Search

Market Analysis - 03.12.2020

Updated: Mar 13, 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:

26.05

29.43

30 - GEX


Key Resistance Levels:

32.10

33.53

35 - GEX

35.21

36.35


Auction Profile:

Range bound


/CL futures have fallen overnight and are now trading in a narrow range below the previous value area. The news that the Saudis will provide oil at $25 per barrel to Europe has impacted prices worldwide. Expect two sided trade with little conviction, with increased risk downward.

S&P 500


Key Support Levels:

2500 - GEX

2554

2591.75



Key Resistance Levels:

2619

2700 - GEX

2729.50

2782.50

2800


Auction Profile:

Down auction


/ES futures are currently halted due to coronavirus concerns and the moratorium of travel to Europe, excluding the UK. Strong seller conviction is present and barring any economic stimulus being confirmed, expect continued movement to the downside.

NATURAL GAS


Key Support Levels:

1.50 - GEX

1.717

1.74

1.778


Key Resistance Levels:

1.802

1.841

1.884

1.918

1.966

1.995

2 - GEX


Auction Profile:

Down auction


/NG futures have dropped dramatically overnight and are trading in a narrow range far below previous value. Sellers are in control with two sided action likely in the future. Downside risk is elevated.