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Market Analysis - 04.03.2020

Updated: Apr 6, 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:

22.39

23.25

25 - GEX

25.10

26.05


Key Resistance Levels:

27.45

28.28

29.43

30 - GEX


Auction Profile:

Range bound


/CL futures rose greater than 7% overnight as news broke that OPEC+ may be reconvening. As the contracts are trading above the previous value area, buyers are currently in control. With a low volume node directly above the contracts, expect strong resistance between 27.45 and 28.28.

S&P 500


Key Support Levels:

2386

2411.25

2445

2450 - GEX

2489


Key Resistance Levels:

2550 - GEX

2554

2591.75

2619

2658.75

2694.25


Auction Profile:

Range bound


/ES futures are trading within a narrow range within the previous value area. Buyers and sellers have little conviction at this point. Once again, the most likely scenario is that price action rotates between 2445 and 2500.

NATURAL GAS


Key Support Levels:

1.50 - GEX

1.526


Key Resistance Levels:

1.565

1.611

1.655

1.678

1.7

1.717

1.74

1.75 - GEX


Auction Profile:

Down auction