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Market Analysis - 05.15.2020

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:

24.90

25 - GEX

25.49

26.75

28.24


Key Resistance Levels:

29 - GEX

29.18


Auction Profile:

Up auction


/CL futures are trading far above the previous value area after a surge higher yesterday afternoon. Upside risk is elevated today.

S&P 500


Key Support Levels:

2750.25

2800 - GEX

2810.50

2846.75


Key Resistance Levels:

2883.50

2850 - GEX

2945.75


Auction Profile:

Range bound


/ES futures are trading within the previous value area after being rejected around 2860 in the overnight session. Support has come in around 2810.50 with after the strong influx of sellers. Downside risk remains elevated.

NATURAL GAS


Key Support Levels:

1.532

1.564

1.60 - GEX

1.613

1.697


Key Resistance Levels:

1.719

1.757

1.831

1.86

2 - GEX


Auction Profile:

Range bound


/NG futures are trading in a narrow range to the upper portion of the previous value area after rising yesterday afternoon. Price has found support around 1.697. Watch for a big move following a breakout to either side, once buyers or sellers enter the market strongly.