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Market Analysis - 05.22.2020

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:

28.24

29.18

30.05

31.50 - GEX


Key Resistance Levels:

32.73

33.78

34 - GEX

34.89

36.35

41.05


Auction Profile:

Range bound


/CL futures are trading below the previous value area as contracts fell to 31.50 during the overnight session. As mentioned yesterday, there is strong resistance above 34.88 and we will need sustained, aggressive buying to move past that level. Look for contracts to remain between 31.50 and 34.88, barring any significant news event.

S&P 500


Key Support Levels:

2846.75

2883.50

2930 - GEX


Key Resistance Levels:

2945.75

2950 - GEX

2976

3037


Auction Profile:

Range bound


/ES futures are trading within the previous value area after a selloff overnight. Support is came in around 2900, with contracts rebounding to around 2945.75. Price will most likely remain range bound until aggressive buyers or sellers reenter the market.

NATURAL GAS


Key Support Levels:

1.564

1.613

1.697

1.70 - GEX

1.719


Key Resistance Levels:

1.75 - GEX

1.757

1.831

1.86

1.912


Auction Profile:

Range bound