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Market Analysis - 03.27.2020

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:

20 - GEX

20.52


Key Resistance Levels:

22.39

23 - GEX

23.25

25.10

26.05

27.45


Auction Profile:

Range bound


/CL futures are trading in a narrow range with price currently below the previous value area. Little directional conviction exists between buyers and sellers with slightly elevated downside risk.

S&P 500


Key Support Levels:

2281

2323

2411.25

2450 - GEX

2489


Key Resistance Levels:

2554

2591.75

2600 - GEX


Auction Profile:

Range bound


/ES futures are trading within the lower portion section of the previous value area. There was strong rejection around 2619 as price entered a low volume area. Traders are still awaiting the House vote on the stimulus bill and volatility will likely remain subdued until the vote has been taken.

NATURAL GAS


Key Support Levels:

1.50 - GEX

1.526

1.565

1.611

1.655


Key Resistance Levels:

1.678

1.7

1.717

1.74

2 - GEX


Auction Profile:

Range bound


/NG futures price and value area are trading above the previous value area. The contracts saw strong rejection around 1.70, however, the location of the current value area still signifies buyer conviction.