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Market Analysis - 06.12.2020

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 - GEX

36.35


Key Resistance Levels:

37 - GEX

37.88

38.83

41.05


Auction Profile:

Down auction


/CL futures are trading within the previous value area after price was supported around 34.50 overnight. Contracts are back to the high volume node which currently exists between 36.35 and 37. Consolidation is the most likely near term scenario until aggressive buyers or sellers enter the market.

S&P 500


Key Support Levels:

3000

3013.50

3030 - GEX

3037

3051.25


Key Resistance Levels: 3090.50

3100 - GEX

3129.50

3152

3190


Auction Profile:

Down auction


/ES futures are trading dramatically lower than the previous value area after a sharp decrease in price yesterday. Support has been found around 3000. Fears of a second wave of the coronavirus continue to weigh on the minds of traders. Consolidation is likely in the near term until motivated buyers or sellers enter the market forcefully.

NATURAL GAS


Key Support Levels:

1.674

1.725

1.75 - GEX


Key Resistance Levels:

1.819

1.84

1.86

1.896

1.94

2 - GEX


Auction Profile:

Range bound