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Market Analysis - 05.26.2020

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 - GEX

30.05

32.73

33.78


Key Resistance Levels:

34.88

35 - GEX

36.35

41.05


Auction Profile:

Range bound


/CL futures are trading above the previous value area as contracts have pushed past resistance around 33.78. As mentioned previously, the 34.88 - 36.35 area is a strong resistance level do to the gap down on March 9th of this year. Upside risk is elevated, yet resistance remains.

S&P 500


Key Support Levels:

2846.75

2883.50

2945 - GEX

2945.75

2976


Key Resistance Levels:

3020 - GEX

3037


Auction Profile:

Range bound


/ES futures are trading above the previous value area and above support after significant buying came in overnight. Next major resistance level is around 3037. Price is currently trading in a narrow range. Wait for a significant move in either direction to confirm the breakout.

NATURAL GAS


Key Support Levels:

1.564

1.613

1.697

1.75 - GEX

1.719

1.757


Key Resistance Levels:

1.81

1.85 - GEX

1.86

1.912


Auction Profile:

Range bound