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Market Analysis - 04.15.2020

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:

17.80

19 - GEX

19.35


Key Resistance Levels:

20 - GEX

20.52

22.39

23.25

25.10


Auction Profile:

Down auction


/CL futures are continuing their drop currently trading far below previous value area, illustrating sellers are entering the market. Downside risk remains elevated.

S&P 500


Key Support Levels:

2694.25

2729.50

2750 - GEX


Key Resistance Levels:

2782.50

2800 - GEX

2815

2855


Auction Profile:

Range bound


/ES futures are trading below the previous value area indicating sellers are in control. Expect support to come in around 2729.50, with downside risk elevated.


NATURAL GAS


Key Support Levels:

1.526

1.565

1.60 - GEX

1.611


Key Resistance Levels:

1.65 - GEX

1.655

1.678

1.70

1.717


Auction Profile:

Down auction


/NG futures are trading below the previous value area indicating downward pressure from market participants. However, support at 1.611 exists and could be a near term floor on price action. Downside risk remains elevated.