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Market Analysis - 05.20.2020

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

28.24

29 - GEX

29.18

30.05

31.50


Key Resistance Levels:

32.73

33.78

35 - GEX


Auction Profile:

Up auction


/CL futures are again trading in a narrow range within the previous value area. Contracts continue to consolidate around the 32 level. The likelihood that price will breakout in either direction remains high today. Wait for the influx of buyers or sellers and ride the wave to the next support/resistance level.

S&P 500


Key Support Levels:

2750.25

2810.50

2846.75

2883.50

2900 - GEX

2945.75


Key Resistance Levels:

3000 - GEX


Auction Profile:

Range bound


/ES futures are trading within the previous value area after a sharp decline yesterday afternoon. As with crude oil, we will await a strong push out of this consolidation from buyers or sellers and expect continuation in that direction.

NATURAL GAS


Key Support Levels:

1.564

1.613

1.697

1.719

1.75 - GEX

1.757


Key Resistance Levels:

1.831

1.86

1.912

2 - GEX


Auction Profile:

Up auction


/NG futures are trading within the previous value area after continuing to consolidate since yesterday afternoon. Watch for a breakout to either side once aggressive part