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Market Analysis - 05.06.2020

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:

20 - GEX

21.56

21.94

23.02

24


Key Resistance Levels:

25.49

26.75

28 - GEX


Auction Profile:

Up auction


/CL futures are trading slightly above the previous value area with price rejected strongly around 25.49. Contracts having been oscillating between 24 and 25.49 through the overnight session, which shows active interest by both buyers and sellers. Downside risk is elevated.

S&P 500


Key Support Levels:

2699.75

2750.25

2810.50

2846.75

2865 - GEX


Key Resistance Levels:

2883.50

2890 - GEX

2945.75


Auction Profile:

Range bound


/ES futures are trading within the previous value area while showing resistance again today around the 2883.50 level and support in the vicinity of 2846.75. Upside risk remains elevated.

NATURAL GAS


Key Support Levels:

1.75 - GEX

1.831

1.86

1.912

1.971

2.016


Key Resistance Levels:

2.116

2.25 - GEX


Auction Profile:

Range bound


/NG futures are trading below the previous value area in a narrow range. Currently, contracts are showing little conviction from both buyers and sellers. Downside risk is elevated today.

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