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Market Analysis - 05.18.2020

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:

26.75

27 - GEX

28.24

29.18


Key Resistance Levels:

32.50 - GEX

33.78


Auction Profile:

Up auction


/CL futures are trading far above the previous value area again today after buyers continue to dominate the market. Upside risk is elevated today, with significant longer term resistance coming in around 33.78.

S&P 500


Key Support Levels:

2750.25

2810.50

2846.75

2855 - GEX

2883.50


Key Resistance Levels:

2945.75

2950 - GEX


Auction Profile:

Range bound


/ES futures are trading far above the previous value area after a strong move upward in the last few hours of trading. Resistance remains around 2945.75 as upside risk is elevated today.

NATURAL GAS


Key Support Levels:

1.564

1.613

1.697

1.70 - GEX

1.719


Key Resistance Levels:

1.757

1.831

1.86

1.912

2 - GEX


Auction Profile:

Up auction


/NG futures are trading above the previous value area after gapping up during the overnight session. Price has found some resistance around 1.757, yet upside risk is elevated.