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Market Analysis - 05.11.2020

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

23.02

23.41

24

24.90


Key Resistance Levels:

25 - GEX

25.49

26.75


Auction Profile:

Range bound


/CL futures are trading above the previous value area with strong buying pressure. Upside risk is elevated today.

S&P 500


Key Support Levels:

2750.25

2810.50

2846.75

2865 - GEX

2883.50


Key Resistance Levels:

2910 - GEX

2945.75


Auction Profile:

Range bound


/ES futures are trading below the previous value area after being strongly rejected around 2945.75. Support remains around 2883.50 with downside risk elevated today.

NATURAL GAS


Key Support Levels:

1.719

1.75 - GEX

1.757

1.831


Key Resistance Levels:

1.86

1.912

1.971

2 - GEX

2.016


Auction Profile:

Down auction


/NG futures are trading within the previous value area in a narrow range. Currently, there is little conviction from buyers and sellers. Watch for a breakout in either direction as an influx of volume enters the market.