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Market Analysis - 03.30.2020

Updated: Mar 31, 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:

17.50 - GEX


Key Resistance Levels:

20.52

22 - GEX

22.39

23.25

25.10


Auction Profile:

Range bound


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

S&P 500


Key Support Levels:

2281

2323

2400 - GEX

2411.25

2489


Key Resistance Levels:

2554

2591.75

2650 - GEX


Auction Profile:

Range bound


/ES futures are trading within the lower portion of the previous value area after filling in the overnight session gap. The low volume area above 2619 remains a strong resistance area, so look for price to get strongly rejected there. Expect another range bound day.

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 far below the previous value area. This indicates increased seller activity, however, the rejection of the gap down in the overnight session shows some buyer conviction as well. Most likely scenario is a range day between 1.611 and 1.70.