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Market Analysis - 04.06.2020

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

25.10

26.05

27 - GEX


Key Resistance Levels:

27.45

28.28

29.43

30 - GEX


Auction Profile:

Range bound


/CL futures gapped lower during the Sunday night session, but have recovered most of the losses as of now. This illustrates the presence of both aggressive buyers and sellers. Expect a range bound day with prices varying greatly. Most recent reference points indicate swings between 26.05 and 29.43.

S&P 500


Key Support Levels:

2445

2489

2500 - GEX

2523.25

2554


Key Resistance Levels:

2591.75

2600 - GEX

2619

2658.75

2694.25


Auction Profile:

Range bound


/ES futures had a strong upward move overnight and is currently trading a narrow range at the top of that move. There is the possibility of more buying strength from here, but there is strong resistance above 2625. Expect contracts to trade between 2445 and 2625, barring any news catalysts.

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

1.75 - GEX


Auction Profile:

Range bound


/NG futures closed Friday much higher, a sign of increasing buye