Search

Market Analysis - 03.24.2020

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 above the previous value area. This shows little conviction from buyers and sellers with elevated upside risk. Look for contracts to remain between 22.39 and 25.10.

S&P 500


Key Support Levels:

2281

2300 - GEX

2323


Key Resistance Levels:

2411.25

2489

2554

2591.75

2600 - GEX


Auction Profile:

Range bound


/ES futures are once again up due to the anticipation of economic measures by Congress. As mentioned yesterday, 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:

1.526

1.565

1.60 - GEX

1.611

1.655


Key Resistance Levels:

1.678

1.7

1.717

1.74

1.75 - GEX


Auction Profile:

Range bound


/NG futures surged higher this morning during premarket hours. This indicates a strong conviction from buyers. However, there is strong resistance around 1.678 and 1.70. Expect a push to at least these levels, but due to high volatility, these contracts will most likely remain range bound.