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Market Analysis - 04.30.2020

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:

11.79

13.73

15 - GEX

15.37


Key Resistance Levels:

17.88

19.35

20 - GEX


Auction Profile:

Range bound


/CL futures are trading far above the previous value area close to resistance at 17.88. Buying will pressure will have to remain strong to push through the low volume node above this area. Upside risk is elevated today, but selling pressure will remain stronger until low volume area is filled.

S&P 500


Key Support Levels:

2810.50

2846.75

2883.50

2900 - GEX


Key Resistance Levels:

2945.75

2950 - GEX


Auction Profile:

Range bound


/ES futures are trading within the previous value area with selling pressure coming in around 2960. Downside risk is elevated with a likely range day today.

NATURAL GAS


Key Support Levels:

1.75 - GEX

1.831

1.86

1.912

1.971


Key Resistance Levels:

2 - GEX

2.016


Auction Profile:

Range bound


/NG futures have are trading below the previous value area in a wide range. Strong buying activity was immediately and swiftly smothered by sellers. Downside risk remains elevated today.

NASDAQ


Key Support Levels: