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Market Analysis - 06.09.2020

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:

35.85

36.35

37 - GEX

37.88


Key Resistance Levels:

38.50 - GEX

38.83

41.05


Auction Profile:

Range bound


/CL futures are trading below the previous value area after price was supported strongly around the high put gamma strike. Fundamentals, such as the crack spread between /RB and /CL, are showing deterioration recently. Downside risk is elevated.

S&P 500


Key Support Levels:

3075

3090.50

3129.50

3152

3190 - GEX


Key Resistance Levels:

3214.75

3275 - GEX


Auction Profile:

Up auction


/ES futures are trading within the previous value area after being rejected overnight around 3231. Sentiment is sky high as the Fed continues to push the markets higher. Expect volatility around the FOMC meeting tomorrow as press release occurs at 2 PM ET and Powell's press conference follows. Downside risk is elevated.

NATURAL GAS


Key Support Levels:

1.75 - GEX


Key Resistance Levels:

1.819

1.84

1.86

1.896

1.95 - GEX


Auction Profile:

Range bound


/NG futures are trading within the previous value area after price was rejected around 1.819 overnight. Support remains at 1.75 with downside risk elevated today.

NASDAQ