Search

Market Analysis - 03.23.2020

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:

20.52

22.39

23 - GEX


Key Resistance Levels:

25.10

26.05

26.50 - GEX

27.45

28.28


Auction Profile:

Range bound


/CL futures are trading in a narrow range below the previous value area. This shows little conviction from buyers and sellers with elevated downside risk.

S&P 500


Key Support Levels:

2250 - GEX

2281


Key Resistance Levels:

2323

2350 - GEX

2411.25

2489

2554

2591.75


Auction Profile:

Range bound


/ES futures just jumped due to economic stimulus promised by the Fed. Once again, this will most likely be a buy the rumor, sell the news event. Expect the market to react negatively once the news if fully absorbed.

NATURAL GAS


Key Support Levels:

1.50 - GEX

1.526

1.565


Key Resistance Levels:

1.611

1.655

1.678

1.7

1.717

1.74

1.75 - GEX


Auction Profile:

Range bound


/NG futures gapped lower overnight but met strong support at 1.526. This indicates an excessive move downward as sellers continued to push price lower until there were no sellers left. Expect natural gas contracts to push higher and remain within the range from Friday's session.