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Market Analysis - 04.09.2020

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


Key Resistance Levels:

26.05

27.45

28.28

29.43

30 - GEX


Auction Profile:

Range bound


/CL futures volatility will continue to be elevated today as a virtual OPEC+ meeting is occurring at 10 AM ET. Price swings from 20 to 40 are possible according to some analysts. If you are trading oil today, be very aware of the current market situation around that time period.

S&P 500


Key Support Levels:

2591.75

2619

2658.75

2694.25

2700 - GEX


Key Resistance Levels:

2729.50

2750 - GEX

2782.50

2815

2855


Auction Profile:

Range bound


/ES futures are trading in the upper half of the previous value area. Resistance around 2694.25 has now become support. Upside risk is elevated, with 2694.25 a nice level to go long if it is tested again, barring any negative news catalyst.

NATURAL GAS


Key Support Levels:

1.678

1.70

1.717

1.74

1.75 - GEX


Key Resistance Levels:

1.761

1.778

1.802

1.821

1.841

2 - GEX


Auction Profile:

Range bound