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Market Analysis - 06.04.2020

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:

33.16

33.78

34.88

35 - GEX

36.35


Key Resistance Levels:

37.07

37.88

38.50 - GEX


Auction Profile:

Up auction


/CL futures are trading within the previous value area again today in a narrow range between 36.35 and 37. As mentioned previously, OPEC+ production cut extensions continue to weigh on the minds of traders. Wait for aggressive buyers or sellers to enter the market and push price outside of its current consolidation.

S&P 500


Key Support Levels:

3013.50

3037

3051.25

3090.50

3100 - GEX


Key Resistance Levels:

3120 - GEX


Auction Profile:

Up auction


/ES futures are trading within the previous value area in a narrow range. Price is currently consolidating between the high gamma strikes. Wait for a breakout of either of these levels accompanied by strong volume.

NATURAL GAS


Key Support Levels:

1.75 - GEX


Key Resistance Levels:

1.819

1.84

1.896

1.951

2 - GEX


Auction Profile:

Range bound


/NG futures are trading within the previous value area with rejection coming in around 1.84. Price is currently in a narrow range and will wait for aggressive market participants before move strongly in either direction.

NASDAQ