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Market Analysis - 05.27.2020

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 within the previous value area as contracts consolidate around 34. Watch for a breakout to either side when aggressive participants enter the market.

S&P 500


Key Support Levels:

2846.75

2883.50

2945.75

2976

2985 - GEX


Key Resistance Levels:

3030 - GEX

3037


Auction Profile:

Up auction


/ES futures are trading above the previous value area again today as buyers drove up the price overnight. Upside risk remains elevated, but price will need a substantial push to get through the 3037 level.

NATURAL GAS


Key Support Levels:

1.75 - GEX

1.84

1.951


Key Resistance Levels:

2 - GEX

2.013

2.064

2.121


Auction Profile:

Range bound


The active /NG futures have changed to the July contracts, and as such we have made adjustments to our charts. These futures are trading above the previous value area in a narrow range. Strong resistance exists around 2.013. Wait for a breakout in either direction as buyers or sellers enter the market aggressively.