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Market Analysis - 04.07.2020

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

24 - GEX

25.10

26.05


Key Resistance Levels:

27.45

28.28

29.43

30 - GEX


Auction Profile:

Range bound


/CL futures are trading within the previous value area indicating little conviction from buyers and sellers. Downward risk is elevated. There is a possible OPEC+ deal on the horizon with a deal including US producers also on the table. The outcome of this meeting will have a large impact on the price of oil in the short term.

S&P 500


Key Support Levels:

2591.75

2600 - GEX

2619

2658.75

2694.25


Key Resistance Levels:

2729.50

2782.50

2815

2855

2880 - GEX


Auction Profile:

Up auction


/ES futures had another strong upward move overnight and is currently trading a narrow range at the top of that move. Expect continued upside with strong support below contracts at 2694.25.

NATURAL GAS


Key Support Levels:

1.74

1.75 - GEX

1.761

1.778

1.802


Key Resistance Levels:

1.821

1.841

1.85 - GEX

1.884

1.918


Auction Profile:

Up auction